sharon slegde invested $20000 part at 5% and part at 7% simple interest for a period of 1 yr. How much was invested in each account if the interest earned in the 7% account was $440 greater that the interest earned in the 4% account?

Question

sharon slegde invested $20000 part at 5% and part at 7% simple interest for a period of 1 yr.  How much was invested in each account if the interest earned in the 7% account was $440 greater that the interest earned in the 4% account?

gw2011 · Answer

I got the following answers: $8000 was invested at 5% and $12,000 was invested at 7%.  This is how I got these answers:

Let x=amount invested at 5%

0.07(20,000-x)=440+0.05x
1400-0.07x=440+0.05x
1400-440=0.07x+0.05x
960=0.12x  Rewriting this equation to get:
0.12x=960
x=$8000 invested at 5%
$20,000-8000=$12,000 invested at 7%