SOLUTION: Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much is invested at each rate if the total return after one year is $950?
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Question 1097361: Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much is invested at each rate if the total return after one year is $950?
Answer by ikleyn(52797) (Show Source): You can put this solution on YOUR website!
.
Read this
https://www.algebra.com/algebra/homework/playground/test.faq.question.260969.html
https://www.algebra.com/algebra/homework/playground/test.faq.question.260969.html
and do the same.
Actually, it is absolutely standard problem on investments.
You will meet it tens times during your school years, so it it much better to learn on how to do it once for all
than ask tutors to solve it instead of doing it on your own.
So, the correct question from your side would be: "where I can learn about it ?"
And then my answer is: look into the lesson
- Using systems of equations to solve problems on investment
in this site.
You will find there solved problems with full explanations.
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