Asked by Lily
Q:Mr.Camacho invested twice as much in a savings account at 6.5% as he invested in a U.S. Treasure Note at 7%. If his yearly income from both investments is $800.00, how much has he invested at 6.5% and how much at 7%?
A: Equation: ____
6.5%: ______
7%:________
A: Equation: ____
6.5%: ______
7%:________
Answers
Answered by
drwls
Let's say he invested X at 7% and 2X at 6.5%.
0.07X + (0.065)(2X) = 800
0.2 X = 800
X = 4000 dollars
2X = 8000 dollars
0.07X + (0.065)(2X) = 800
0.2 X = 800
X = 4000 dollars
2X = 8000 dollars
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.