Question

PLEASE HELP ASAP!!! SHOW STEPS PLEASE!!!!

Santiago invests $10000 in two different accounts. The first account paid 8 %, the second account paid 12 % in interest. At the end of the first year he had earned $992 in interest. How much was in each account?

$ ____________ at 8 % $ ____________ at 12 %

Answer 1

• $4800 at 12%
• $5200 at 8%

Explanation:

You want to find the amounts invested in accounts paying 8% and 12% such that the total of $10,000 invested earns $992 in interest the first year.

Setup

Let x represent the amount invested at 12%. Then (10000-x) is the amount invested at 8%, and the total interest earned is ...

0.12x +0.08(10000 -x) = 992

Solution

0.04x +800 = 992

0.04x = 192

x = 4800

10000 -x = 5200

$4800 was invested at 12%; $5200 was invested at 8%.