Question

Splitting investments. Joan had $3,000 to invest. She invested part of it in an investment paying 8% and the remainder in an investment paying 10%. If the total income on three investments was $290, than how much did she invest at each rate?

Answer 1

amount invested at 8% --- x
amount invested at 10% -- 3000-x

.08x + .10(3000-x) = 290
.08x + 300 - .1x = 290
-.02x = -10
x = -10/-.02 = 500

so $500 invested at 8% and 2500 invested at 10%

Answer 2

Investment. Part of $25,000