SOLUTION: An investment club invested part of $10,000 at 4% annual interest and the rest at 8%. If the annual income from these investments was $675, how much was invested at 8%?

SOLUTION: An investment club invested part of $10,000 at 4% annual interest and the rest at 8%. If the annual income from these investments was $675, how much was invested at 8%?

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Question 708692:
An investment club invested part of $10,000 at 4% annual interest and the rest at 8%. If the annual income from these investments was $675, how much was invested at 8%?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.08X+.04(10,000-X)=675
.08X+400-.04X=675
.04X=675-400
.04X=275
X=275/.04
X=$6,875 AMOUNT INVESTED @ 8%.
10,000-6875=$3,125 AMOUNT INVESTED @ 4%.
PROOF:
.08*6875+.04*3125=675
550+125=675
675=675

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