Problema Solution
Jason has invested a total of $25,000 in two accounts and at the end of one year earned $26,000 in simple interest. One account earns 7% simple inerest and the other earns 12% simple interest. Find the amount invested in each account.
Answer provided by our tutors
0.12x + 0.07(25000-x) = 2600
so, x= 17000
hence on 12% invested $17000
and on 7% invested $9000.