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A recently retired couple has $150,000 to invest to supplement their Social Security. They invested some of it in an account that paid 10% simple interest per year, and they invested the rest in an account that paid 5% simple interest per year. After one year, they received a total of $12,000 in interest. How much did they invest in each account?

 Feb 9, 2020
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x = 10% amount

150000-x   = 5% amount

 

.1 * x      +     .05 (150 000 -x)   = 12000     solve for 'x' the 10% amount , then the 5% amount = 150 000 - x

 Feb 9, 2020

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