SOLUTION: Joseph had $40,000 to invest. He invested part the money at 4% and the remaining part of the money at 2%. If his income from the two investments was $970, how much did he invest

SOLUTION: Joseph had $40,000 to invest. He invested part the money at 4% and the remaining part of the money at 2%. If his income from the two investments was $970, how much did he invest

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Question 874008: Joseph had $40,000 to invest. He invested part the money at 4% and the remaining part of the money at 2%. If his income from the two investments was $970, how much did he invest at each of the rates?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
.04x + .02(40000-x) = $970
x = 170/.02 = $8500 at 4% at 2%
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