I need a simpler way to solve this problem with an equation...Mrs. Jones invested $10,000, some in each of two separate accounts. One pays 5% interest and the other 6%. If her combined annual interest is $575, how much does she have invested in each account?......off the top of my head, I solved it by first 10000/2=5000, then I 5000/2 =2500
I then 2500*.05=125, I then 7500*.06=450....Both answers equal the total interest of $575.00
$2500 was invested at 5%, and $7500 was invested at 6%.....How would I put this in an equation form...thank u
I then 2500*.05=125, I then 7500*.06=450....Both answers equal the total interest of $575.00
$2500 was invested at 5%, and $7500 was invested at 6%.....How would I put this in an equation form...thank u