Question

Sheila has investments totaling $8000 in two
accounts. The savings account pays 6% interest and the
other account is in bonds paying an interest rate of
11%. If the annual interest from the two investments
totaled $780, how much did she invest in each account?

Answer 1

The amount she invested in each account is:

$6,000 invested at 11%

$6,000 invested at 6%

Let x represent the amount invested at 11%

Hence:

.11x+.06(8000-x)=780

.05x+480=780

Collect like terms

.05x=300

Divide both side by .05x

x=300/.05

x=$6,000

Inconclusion the amount she invested in each account is: $6,000 invested at 11% and $6,000 invested at 6%.

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