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aivan3 [116]
3 years ago
15

Bernie has $16000 invested, part at 3% and the remainder at 5%. If the yearly interest on each investment is the same, how much

interest does he receive each year?
Mathematics
1 answer:
Snowcat [4.5K]3 years ago
3 0
If the interest is the same for both accounts then:

.03x=.05(16000-x)

.03x=800-.05x

.08x=800

x=10000, since the interest is the same for both we can just double the interest from one investment to find the total interest earned each year...

.03(10000)2=$600.00
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