Two investments earn an annual income of $774. One investment earns an annual simple interest rate of 8.3%, an? and Save Darfur protest at Franklin Templeton Investments

Two investments earn an annual income of 4. One investment earns an annual simple interest rate of 8.3%, an?

(cont'd.): and the other investment earns an annual simple interest rate of 10.5%. The total amount invested is $ 8,000. How much is invested in each account?

8.3% investment =
10.5% investment=


Investment best answer:

Answer by Marc
Let X = the amount invested at 8.3%
Then $ 8,000 - X = the amount invested at 10.5%

Therefore:

.083X + .105($ 8,000 - X) = $ 774, this reduces to

.083X + $ 840 - .105X = $ 774, which further reduces to

$ 66 = .022X, which solves for X as

$ 3,000 = X

So $ 8,000 - X = $ 5,000

8.3% investment = $ 3,000
10.5% investment= $ 5,000

Now test your answer

$ 3,000 X 8.3% = $ 249
$ 5,000 X 10.5% = $ 525

$ 249 + $ 525 = $ 774, and you have proved your answer

Investment

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Orignal From: Two investments earn an annual income of $774. One investment earns an annual simple interest rate of 8.3%, an? and Save Darfur protest at Franklin Templeton Investments