Answer:
<u>Mr. Wilson invested $ 2,000 in the 12% simple interest account and $ 6,000 in the 6% simple interest account.</u>
Step-by-step explanation:
1. Let's review the information given to us to answer the question correctly:
Amount of the investment = $ 8,000
Interest rate of the first account= 6% simple
Interest rate of the second account= 12% simple
Interest of the accounts in a year = $ 600
2. How much did he invest in each account?
For answering the question, we will use the following equation:
x = Amount invested in the first account
8,000 - x = Amount invested in the second account
0.06x + 0.12 * (8,000 - x) = 600
0.06x + 960 - 0.12x = 600
-0.06x = 600 - 960 (Subtracting 960 at both sides)
-0.06x = -360
x = -360/-0.06
x = 6,000 ⇒ 8,000 - x = 2,000
<u>Mr. Wilson invested $ 2,000 in the 12% simple interest account and $ 6,000 in the 6% simple interest account.</u>
