Last year, Charlie had $30,000 to invest. He invested some of it in an account that paid 10% simple interest per year, and he invested the rest in an account that paid 8% simple interest per year. After one year, he received a total of $2640 in interest. How much did he invest in each account? First account: Second account: $

Last year, Charlie had $30,000 to invest. He invested some of it in an account that paid 10% simple interest per year, and he invested the rest in an account that paid 8% simple interest per year. After one year, he received a total of $2640 in interest. How much did he invest in each account? First account: Second account: $

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 28P

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