SOLUTION: An inheritance is divided into two investments. One investment pays 7% annual interest whereas the second investment, which is twice as large as the first, pays 10% annual interest
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Question 104022: An inheritance is divided into two investments. One investment pays 7% annual interest whereas the second investment, which is twice as large as the first, pays 10% annual interest. If the combined annual income from both investments is $4050, how much money is the total inheritance?
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
Let's name the two investments A and B.
Write down what you know.
"second investment, which is twice as large as the first"
1.
Rates and annual income...
2.
Substitute equation 1 into 2.
Substitute your result into equation 1.
Check your answer
7% annual interest from $15,000 equals
10% annual interest from $30,000 equals
Good answer.
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