SOLUTION: Jenny receives $1270 per year from three different investments totaling $20,000. One of the investments pays 6% , the second one pays 8%, and the third one pays 5%. If the money in
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Question 1046955: Jenny receives $1270 per year from three different investments totaling $20,000. One of the investments pays 6% , the second one pays 8%, and the third one pays 5%. If the money invested at 8% is $1500 less than the amount invested at 5%, how much money has Jenny invested in the investment that pays 6%?
Solutions:
a. $8500
b. $4500
c. $10,000
d. $1500
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 5%, then 
is the amount invested at 8%, and )
is the amount invested at 6%. Since the total return is $1270:
\ +\ 0.06(20000\ -\ (2x\ -\ 1500))\ =\ 1270)
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
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