SOLUTION: An investment fund has $3000 more invested at 8% than it does at 10%. If the annual return from the 8% investment is the same as the annual return from the 10% investment, how much
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Question 1170035: An investment fund has $3000 more invested at 8% than it does at 10%. If the annual return from the 8% investment is the same as the annual return from the 10% investment, how much is invested at each rate?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
from 10% x is invested and earns 0.10x
from 8% (x+3000) is invested and earns 0.08x+240
Those are equal
so 0.02x=$240
x=$12000 at 10% or $1200
x+3000=$15000 at 8% or $1200.
$12000 at 10%
$15000 at 8%
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