Problema Solution
Carlos investí a portion of his funds in 9% annual simple interest account and the remainder is an 8% annual simple interest.the amount itself earned for one year was $260. he invested $5000. find how much money he invested in each account.
Answer provided by our tutors
Suppose the investment for 9% = x
so, investment for 8% = 5000-x
The interest earned in this 8% inestment = 260
so, (5000-x)*8/100 = 260
=> x = $1750 , the amount invested in 9%
The investment for 8% = 5000 - 1750 = $3250