Posted by Denis Borris on November 05, 2002 at 00:16:17:
In Reply to: help with problem posted by Mike on November 04, 2002 at 22:08:56:
: A corporation gave a university $300,000 to support product safety research.
: The university deposited some of the money in a 10% simple interset account
: and the remainder in an 8.5% simple interest account. How much was deposited
: in each account if the annual interest earned is $28,500?
Let x = amount at 10%
.10x + .085(300000 - x) = 28500
I'm sure you can finish it...