SOLUTION: Me. Rich invested $200,000, part at 8% and the rest at 20%. His annual income from the investments was $22,000. How much was invested at each rate?

SOLUTION: Me. Rich invested $200,000, part at 8% and the rest at 20%. His annual income from the investments was $22,000. How much was invested at each rate?

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Question 339784: Me. Rich invested $200,000, part at 8% and the rest at 20%. His annual income from the investments was $22,000. How much was invested at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
let him invest $x at 8%
$200000-x he will invest at20%
..
interest earned = $22000
..
0.08x+0.2(200000-x)=22000
0.08x+40000-0.2x=22000
-0.12x=-40000+22000
-0.12x=-18000
x= -18000/0.12
x= $150,000 at8%
$ 50,000 at 20%
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