Beth is planning on investing her $1,600 bonus, putting somein an account earnin

Question

Beth is planning on investing her $1,600 bonus, putting somein an account earning 6% and the rest in an accoount earning 8%.How much should she put in eavh to have a total of $104interest? The money is being invested in 2 accounts. Each account has a different interest rate. The first account is giving 8% interest. The second account is giving 6% interest. I need of figuring out how to get both % to equal 104 Beth is planning on investing her $1,600 bonus, putting somein an account earning 6% and the rest in an accoount earning 8%.How much should she put in eavh to have a total of $104interest? The money is being invested in 2 accounts. Each account has a different interest rate. The first account is giving 8% interest. The second account is giving 6% interest. I need of figuring out how to get both % to equal 104

Explanation / Answer

Let x be the amount invested at 6%. Then 1600-x is invested at 8%. The total interest earned is .06x + .08(1600-x) = 104. Simplifying, .06x + 128 - .08x = 104, so -.02x = -24. Thus,  x = 1200. So $1,200 is invested at 6% (this would give .06*1200 = $72 in interest), and $400 is invested at 8% (this would give .08*400 = $32 in interest). Since 72 + 32 = 104, we have the right answer.

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