SOLUTION: Canadian airways shares pay a early return of 8%, while bancorp pay 11% tom invests 1500$ more on bankcorp than on Canadian airways shares and his total yearly earnings from both i

Question 1151225: Canadian airways shares pay a early return of 8%, while bancorp pay 11% tom invests 1500$ more on bankcorp than on Canadian airways shares and his total yearly earnings from both investments is 1020$. how much did tom invest in Canadian airways shares.
Answer by ikleyn(52812) (Show Source): You can put this solution on YOUR website!
.
Canadian airways shares pay a yearly return of 8%, while bancorp pay 11%. Tom invests 1500$ more on bankcorp
than on Canadian airways shares and his total yearly earnings from both investments is 1020$.
how much did tom invest in Canadian airways shares.
~~~~~~~~~~~~~~

Let x be the value under the question.


Then your basic equation is


    0.08x + 0.11*(x+1500) = 1020  dollars.


Express x and calculate


    x =  = 4500.


ANSWER.  $4500 invested at Canadian.


CHECK.   0.08*4500 + 0.11*(4500+1500) = 1020 dollars.   ! Precisely correct !

Solved.

---------------

It is a standard and typical problem on investments.

If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson
- Using systems of equations to solve problems on investment
in this site.

You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).

Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

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