SOLUTION: Mr. Dunnn invested $35,000 part at 8% and the rest at 5%. His anual income from the 8% investment was $450 less than his annual income from the 5% investment. Find the amount he

Question 1118006: Mr. Dunnn invested $35,000 part at 8% and the rest at 5%. His anual income from the 8% investment was $450 less than his annual income from the 5% investment. Find the amount he invested at each rate.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Mr. Dunn invested $35,000 part at 8% and the rest at 5%.
let x = amt invested at 8%
The total is 35000, therefore
(35000-x) = amt invested at 5%
His annual income from the 8% investment was $450 less than his annual income from the 5% investment.
.05(35000-x) - .08x = 450
1750 - .05x - .08x = 450
-.13x = 450 - 1750
-.13x = -1300
x = -1300/-.13
x = $10,000 invested at 8%
then
35000-10000 = $25,000 invested at 5%
:
:
Confirm this find the actual amt of income from each
.05(25000) = 1250
.08(10000) = 800
-------------------
difference: 450

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