You invented $10,000 in two accounts paying 8% and 9% annual interst, resepectively. IF the toatal interest earned for the year was $840, how much was invested at each rate?
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You invented $10,000 in two accounts paying 8% and 9% annual interst, resepectively. IF the toatal interest earned for the year was $840, how much was invested at each rate?
Is that simple interest and the interest applied per annum?
If so, recall your interest formula:
Let x be the first sum and y the second.
And
And
And
can you give that a try? :)
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