SOLUTION: Lina Chen invest $24,000, part at 8% and the rest 7.2%. How much did she invest at each rate if her income from the 8% investment is two thirds that of the 7.2% investment?

Question 64048This question is from textbook
: Lina Chen invest $24,000, part at 8% and the rest 7.2%. How much did she invest at each rate if her income from the 8% investment is two thirds that of the 7.2% investment? This question is from textbook

Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.08x=(2/3)*.072(24,000-x)
.08x=.048(24,000-x)
.08x=1,152-.048x
.08x+.048x=1,152
.128x=1,152
x=1,152/.128
x=9,000 in vested @ 8%
so wer have 24,000-9,000=15,000 invested @ 7.2%
proof
.08*9000=(2/3).072*15,000
720=.048*15,000
720=720
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