# SOLUTION: Phil as \$20,000, part of which he invests at 8% interest and the rest at 6%. If his total income from the two investments after one year was \$1460, how much did he invest at each

Algebra ->  Algebra  -> Coordinate Systems and Linear Equations -> SOLUTION: Phil as \$20,000, part of which he invests at 8% interest and the rest at 6%. If his total income from the two investments after one year was \$1460, how much did he invest at each       Log On

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 Click here to see ALL problems on Linear Equations And Systems Word Problems Question 339638: Phil as \$20,000, part of which he invests at 8% interest and the rest at 6%. If his total income from the two investments after one year was \$1460, how much did he invest at each rate? I actually have the answers on my homework sheet, but for the life of me I cannot remember how to set up this problem. If you could explain it would be greatly appreciated.Answer by scott8148(6628)   (Show Source): You can put this solution on YOUR website!x(8%) + (20000 - x)(6%) = 1460 .08x + 1200 - .06x = 1460 .02x = 260 you can finish this