Jonathan invested a total of Php 20,000.00 in two simple interest savings accounts, one having an annual interest rate of eight percent, the other, seven percent. If the total annual earnings from the two accounts are Php 1,517.50, how much was invested in each account?
Jonathan invested a total of Php 20,000.00 in two simple interest savings accounts, one having an annual interest rate of eight percent, the other, seven percent. If the total annual earnings from the two accounts are Php 1,517.50, how much was invested in each account?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Jonathan invested a total of Php 20,000.00 in two simple interest savings accounts, one having an annual interest rate of eight percent, the other, seven percent. If the total annual earnings from the two accounts are Php 1,517.50, how much was invested in each account?
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