Question
Mr Joyce invested $ 25,000, part at 4% interest and the remainder at 7% interest. The total income he received from his investment was $1,450. How much did he invest at each interest rate?
Thank you
Thank you
Answers
Steve
if x is at 4%, then the rest (25000-x) is at 7%
So, add up the interest:
.04x + .07(25000-x) = 1450
So, add up the interest:
.04x + .07(25000-x) = 1450
Marina
Thank you so much Steve