SOLUTION: on two investments totaling $6000, kevin lost 3% on one and earned 6% on the other. if his net annual receipts were $288, how much was each investment? answer
Algebra.Com
Question 1058544: on two investments totaling $6000, kevin lost 3% on one and earned 6% on the other. if his net annual receipts were $288, how much was each investment? answer
Answer by solve_for_x(190) (Show Source): You can put this solution on YOUR website!
Let x represent the amount invested in the investment that lost value,
and let y represent the amount invested in the investment that gained
value.
Since the total investment was $6000, you can write:
x + y = 6000
The total amount gained is then
-0.03x + 0.06y = 288
Solving the first equation for y gives:
y = 6000 - x
Substituting 6000 - x in place of y in the second equation then gives:
-0.03x + 0.06(6000 - x) = 288
-0.03x + 360 - 0.06x = 288
-0.09x + 360 = 288
-0.09x = -72
x = -72 / -0.09
x = 800
Then y = 6000 - 800 = 5200
Solution: $800 was invested in the account the lost value, and $5200 was invested
in the account that gained value.
Check:
x + y = 800 + 5200 = 6000
-0.03x + 0.06y = (-0.03)(800) + (0.06)(5200) = -24 + 312 = 288
RELATED QUESTIONS
On two investments totaling 10,500, Peter lost 4% on one and earned 6% on the other. If... (answered by graphmatics)
On two investments totaling $8,000, Lydia lost 4% on one and earned 6% on the other. If... (answered by richwmiller)
On two investments totaling $7,000, Lydia lost 4% on one and earned 6% on the other. If... (answered by josmiceli,MathTherapy)
on two investments totaling $14,500.00, Emma lost 3% on one and earned 7% on the other.... (answered by stanbon)
On two investments totaling $6,000, Peter lost 6% on one and earned 9% on the other. If... (answered by josmiceli)
On two investments totaling $14,000$14,000, Brian lost 7% on one and earned 8%8%... (answered by greenestamps)
on 2 investments totaling 13500 peter lost 5 percent on one and gained 7 percent on the... (answered by mananth)
Kathy made two investments totaling $17,000. On one investment she made 15% profit, but... (answered by addingup,josmiceli)
John made two investments totaling $25,000. On one investment he made a 12% profit. On... (answered by Theo,MathTherapy)