Asked by ppp
12. You has investments totaling $8000 in two accounts: a savings account paying
5% interest, and the other a bond paying 8% interest. If the amount of interest after
one year from both investments was $600, how much did you invest in both accounts
initially?
5% interest, and the other a bond paying 8% interest. If the amount of interest after
one year from both investments was $600, how much did you invest in both accounts
initially?
Answers
Answered by
DrBob222
let x = amount in savings
8000-x = amount invested
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0.05x + 0.08(8000-x) = 600
Solve for x and 8000-x
8000-x = amount invested
--------------
0.05x + 0.08(8000-x) = 600
Solve for x and 8000-x