SOLUTION: Joe invested a portion of $6000 at 4.5% interest and the balance at 6% interest. How much did he invest at 6% if his total income from both investments is $279?
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Question 212493: Joe invested a portion of $6000 at 4.5% interest and the balance at 6% interest. How much did he invest at 6% if his total income from both investments is $279?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.06X+.045(6,000-X)=279
.06X+270-.045X=279
.015X=279-270
.015X=9
X=9/.015
X=$600 WAS INVESTED @ 6%.
6,000-600=5,400 INVESTED @ 4.5%
PROOF:
.06*600+.045*5,400=279
36+243=279
279=279
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