SOLUTION: Jill invested $2000, part at 12%/a and the remainder at 8%/a. At the end of one year the amount of interest from each investment were equal. How much was invested at each rate
Algebra.Com
Question 1010026: Jill invested $2000, part at 12%/a and the remainder at 8%/a. At the end of one year the amount of interest from each investment were equal. How much was invested at each rate
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
x = part invested at 12%.
y = part invested at 8%.
interest on x = .12x
interest on y = .08y
at the end of the year .12x = .08y
x + y = 2000
several ways to solve.
this is one way.
from .12x = .08y, solve for y to get y = .12x/.08 = 1.5x
in x + y = 2000, replace y with 1.5x to get x + 1.5x = 2000
combine like terms to get 2.5x = 2000
solve for x to get x = 2000 / 2.5 = 800.
since x + y = 2000, y must be equal to 1200
.12*800 = 96
.08*1200 = 96
the interest is equal so the solution is confirmed to be good.
jill invested 800 at 12% and 1200 at 8%.
RELATED QUESTIONS
A person invests $50,000 for one year; some is invested at 7%, some at 8%, and the... (answered by mananth)
A person invested $6,700 for one year, part at 8%, part at 10% and the remainder at 12%. (answered by stanbon)
Lon Triah invested $5000 at a local bank. Part was invested at 6% simple interest and the (answered by ikleyn)
A total of $2000 was invested: part at 8% and the rest at 12% per year. If after one... (answered by macston)
A person invested $7800 for one year,part at 6%, part at 9%, and the remainder at 12%.The (answered by mananth)
Daniel invested $9000, Part 9% and the remainder at 8% . after one year the total... (answered by ikleyn)
A total of $8000 is invested part at 8% and the remainder at 12% how much is invested at... (answered by richwmiller)
a businesswoman invested 6000$; part of it a 8% and the rest at 12%. If the total... (answered by ewatrrr)
a person invested $8000 for 1 year, part at 8%, part at 11%, and the remainder at 12%.... (answered by Theo)