Asked by Martha
Part of 26000 invested at 4% interest and the rest at 2% interest yields 680.00
Answers
Answered by
Henry
Invested $X @ 4%.
Invested $(26,000 - X) @ 2%.
0.04X + 0.02(26000 - X) = 680,
0.04X + 520 - 0.02X = 680,
0.02X = 680 - 520 = 160,
X = $8000 @ 4%.
26000 - 8000 = $18000 @ 2%.
Invested $(26,000 - X) @ 2%.
0.04X + 0.02(26000 - X) = 680,
0.04X + 520 - 0.02X = 680,
0.02X = 680 - 520 = 160,
X = $8000 @ 4%.
26000 - 8000 = $18000 @ 2%.
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