Respuesta :
Skippy should invest $ 7500 in account offering 4 % interest and $ 2500 in account offering 8 % simple interest
Solution:
Given that Skippy has a total of $10,000 to split between two investments
One account offers 4% simple interest, and the other account offers 8% simple interest
Total interest earned = 500
Number of years = 1
Let the principal with rate of interest 4 % is x
So the principal for rate of interest 8 % is 10000 - x
Total interest earned = simple interest for 4 % interest + simple interest for 8 % interest
Simple interest is given as:
[tex]S.I = \frac{pnr}{100}[/tex]
Where "p" is the principal and "r" is the rate of interest and "n" is the number of years
Therefore,
[tex]\text{ Total interest earned } = \frac{x \times 1 \times 4}{100} + \frac{10000-x \times 1 \times 8}{100}[/tex]
[tex]500 = 0.04x + (10000 - x)0.08\\\\500 = 0.04x + 800 - 0.08x\\\\-300 = -0.04x\\\\x = 7500[/tex]
Therefore skippy should invest $ 7500 in account offering 4 % interest
And skippy should invest (10000 - x) = (10000 - 7500) = $ 2500 in account offering 8 % interest
