SOLUTION: On two investments totaling $14,000$⁢14,000, Brian lost 7% on one and earned 8%8% on the other. If his net annual receipts were $412 how much was each investment?
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Question 1105278: On two investments totaling $14,000$14,000, Brian lost 7% on one and earned 8%8% on the other. If his net annual receipts were $412 how much was each investment?
Answer by greenestamps(13215) (Show Source): You can put this solution on YOUR website!
Let x be the amount of the investment that earned him 8%; then the amount of the investment on which he lost 7% is ($14,000-x).
Then the amount he earned is 8% of x, and the amount he lost is 7% of ($14,000-x).
Since his net gain was $412,
The amount of the investment that earned 8% was $9280; the amount of the investment that lost 7% was $14,000-$9280 = $4720.
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