Asked by Marina

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

Answers

Answered by Steve
if x is at 4%, then the rest (25000-x) is at 7%

So, add up the interest:

.04x + .07(25000-x) = 1450
Answered by Marina
Thank you so much Steve

There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions