Solve.
-How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end of the year?
A)$18,000 invested at 4%; $10,000 invested at 10%
B)$10,000 invested at 4%; $18,000 invested at 10%
C)$20,000 invested at 4%; $8000 invested at 10%
D)$8000 invested at 4%; $20,000 invested at 10%

Question

Quizplus · Accepted Answer

Let x be the amount invested at 4% and y be the amount invested at 10%.Then, x + y = 28000And, 0.04x = 0.10ySolving these equations, we get x = 20000 and y = 8000.Therefore, $20,000 should be invested at 4% and $8000 should be invested at 10% so that the interest earned by the two accounts is equal at the end of the year.

Solve. -How Can $28,000 Be Invested, Part at 4% Annual Simple