SOLUTION: MONEY AND INVESTMENT
4) Maria has twice as much money invested at 5% simple annual interest as she does at 4%. If her yearly income from these two investments is Php 350, how much
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Question 412382: MONEY AND INVESTMENT
4) Maria has twice as much money invested at 5% simple annual interest as she does at 4%. If her yearly income from these two investments is Php 350, how much does she have invested at each rate?
Thank you in advance! Hoping for your immediate reply.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
x = amount of money invested at 4%
2*x = amount of money invested at 5%
yearly income = 350.
.04*x + .05*2*x = 350
factor out the x to get:
x * (.04 + .05*2) = 350
simplify to get:
x * (.14) = 350
divide both sides by .14 to get:
x = 350 / .14 = 2500
that makes 2x = 5000
she invested 2500 at 4% and 5000 at 5%
.04 * 2500 + .05 * 5000 = 100 + 250 = 350
Answer is confirmed.
she invested 2500 at 4% and 5000 at 5%.
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