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March 27, 2017

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How can $60,000 be invested, part at 7% annual simple interest and the remainder at 12% annual simple interest, so that the interest earned by the two accounts will be equal?

  • Math 81 - ,

    amount invested at 7% ---- x
    amount invested at 12% ---- 60000-x

    when is
    .07x = .12(6000-x) ?
    7x = 12(6000-x)
    19x = 72000
    x = 3789.47

    invest $3789.47 at 7% and $5621.05 at 12%

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