SOLUTION: You invested $12,000, part of it in stock that paid 12% annual interest. However, the rest of the money suffered a 5% loss. If the annual income from both investments was $620, how

Question 178995: You invested $12,000, part of it in stock that paid 12% annual interest. However, the rest of the money suffered a 5% loss. If the annual income from both investments was $620, how much was invested at each rate?
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
let x and y be the amount invested in each rate
:
x+y=12000.......eq 1
.12x-.05y=620...eq 2
:
rewrite eq 1 to x=12000-y and plug that value into eq 2
:
.12(12000-y)-.05y=620
:
1440-.12y-.05y=620
:
-.17y=-820
:
amount invested in the 5% loss
:
amount invested in 12% investment
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