Question

How can $54,000 be invested part at 8% annual simple Interest and the remainder at 10% annual simple interest so that the interest earned by the two accounts will be equal

Answer 1

0.08x = $5400-0.1x Add 0.1x to both sides of the equation.

0.18x = $5400 Divide both sides by 0.18

x = $3000 and $54000-$3000 = $24000

$3,000 is invested at 8%

$2,400 is invested at 10%

Explanation: