Problema Solution
a total investment of $9,600 is made into two savings account. One account yields 7% simple interest and the other 9% simple interest. He earned a total of $816.00 interest for the year. How much was invested in the 7% account?
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a total investment of $9,600 is made into two savings account. One account yields 7% simple interest and the other 9% simple interest. He earned a total of $816.00 interest for the year. How much was invested in the 7% account?
Solution:
7% investment:x
9% investment:9600-x
So
7%x+9%(9600-x)=816
x=2400
So
$2400 was invested in the 7% account