SOLUTION: A man invested in two accounts and he receives an annual net profit of $14,560.00
; from one account earns 12% annually and the onther one receives 8% annually.
How much money do
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Question 1152324: A man invested in two accounts and he receives an annual net profit of $14,560.00
; from one account earns 12% annually and the onther one receives 8% annually.
How much money does he have invested in each type of investment?
1) In the one that generates 12% profit, he invested more than two-thirds than in the 8%.
2) The man initially invested $150,000.00 in total.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
amount in 1 is x (let this be 12%)
in 2 is 150000-x (let this be 8%)
interest on 1 is .12x
interest on 2 is .08(150000-x)
that sum is 14560
so .12x+.08(150000-x)=14560
.12x+12000-.08x=14560
.04x=2560
x=$64000 in 1 account at 12% or earns $7680
150000-x=$86000 in the other at 8% or earns $6880
total is $14560.
now let 2 be x and 1 be 150000-x
interest on 1 is .12(150000-x)
interest on 2 is .08x
now 18000-.12x+.08x=14560
-.04x=-3440
x=86000 for x at 8%
150000-x=64000 for x at 12%
Same answer, and he did invest more than 2/3 s of the 8% in the 12%, 64000/86000 is more than 2/3s (almost 3/4)
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