Problema Solution
Blake has a total of $4000 to invest in two accounts. One account earns 2% simple interest, and the other earns 5% simple interest. How much should be invested in each account to earn exactly $155 at the end of 1 year?
Answer provided by our tutors
one account is $1500, the other is $2500
Total investment is $4000 , Total income is $155
One account earns 2% simple interest, and the other earns 5% simple interest.
Soluton: to set account that earns 2% as X, the other is 4000 - X
X x2%+ (4000-X)5%=155
so X = 1500 the other acoount is 2500