Question
A person invest $4000, part at 8.5 per annum and part at 9.5. At the end of the the year the 8.5 made $16 more. How much was invested at 9.5?
Answers
Reiny
Let the amount invested at 8.5% be x
then the amount invested at 9.5% is 4000-x
solve for x
.085x - .095(4000-x) = 16
times 1000
85x - 95(4000-x) = 16000
....
....
the 9.5% investment is 4000-x
then the amount invested at 9.5% is 4000-x
solve for x
.085x - .095(4000-x) = 16
times 1000
85x - 95(4000-x) = 16000
....
....
the 9.5% investment is 4000-x