An investment adviser invested $\$ 120,000$ in two accounts. One investment earned 8% annual simple interest, and the other investment earned 10.5% annual simple interest. The amount of interest earned for 1 year was $\$ 10,850.$ How much was invested in each account?
A) $\$ 97,500$ @ 8%; $\$ 22,500$ @ 10.5%
B) $\$ 77,500$ @ 8%; $\$ 42,500$ @ 10.5%
C)$70,000 @ 8%; $50,000 @ 10.5%
D) $\$ 63,000$ @ 8%; $\$ 57,000$ @ 10.5%
E) $\$ 65,000$ @ 8%; $\$ 55,000$ @ 10.5%

Question

Quizplus · Accepted Answer

Let x be the amount invested at 8%, then (120,000 - x) is invested at 10.5%. The equation is 0.08x + 0.105(120,000 - x) = 10,850. Solving gives x = 70,000 and 120,000 - x = 50,000.

An Investment Adviser Invested $120,000\$ 120,000$120,000 In Two Accounts $10,850.\$ 10,850.$10,850. How Much Was Invested in Each Account? A)

An Investment Adviser Invested $\$ 120,000$ In Two Accounts $\$ 10,850.$ How Much Was Invested in Each Account?
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