Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. james invested $20,000 into two accounts. one acco

James invested $20,000 into two accounts. One account pays 6% simple interest, while the other...

50.1K

Verified Solution

Question

Basic Math

image

James invested $20,000 into two accounts. One account pays 6% simple interest, while the other account pays 5% simple interest. If his interest earnings total $1120 after one year, how much did he invest at each rate?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Match each vocabulary term to its definition number of individuals in a population average number...

Medical Sciences
1.2K views

• Explain the steps that lead to the fusion of a sperm with an egg

Physics
1.2K views

A zener diode having breakdown voltage equa to 15 V is used in a voltage...

Basic Math
1.2K views

The duration of a professor's class has a continuous uniform distribution between 50.0 minutes and...

Calculus
1.2K views

Evaluate the definite integral 7 u du

Accounting
1.2K views

Phoenix Management helps rental property owners find renters and charges the owners one-half of the...

Accounting
1.2K views

Cosby Corporation acquired 60 percent of Huxtable Corporation's voting common stock. Huxtable's buildings and equipment...

Accounting
1.2K views

The Crystal Coast Ocean Resort (CCOR) is a large, family-owned resort located on one of...

Accounting
1.2K views

QUESTION 25 Not complete Points out of 1.00 lg question Black Horse Transportation's sales budget...

Finance
1.2K views

Problem 1. You shorted 500 shares of stock A at $100/share yesterday. Assume an initial...

Accounting
1.2K views

Yancey Productions is a film studio that uses job-order costing. The companys direct materials include...

Finance
1.2K views

Each financial transaction in a business has what is called a "dual effect" on the...