SOLUTION: Joshua invested some of his savings at 5% per year and an equal amount at 8% per year. His income totals Php 55,250.00 a year. How much did Joshua invest at each rate?

SOLUTION: Joshua invested some of his savings at 5% per year and an equal amount at 8% per year. His income totals Php 55,250.00 a year. How much did Joshua invest at each rate?

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Question 898368: Joshua invested some of his savings at 5% per year and an equal amount at 8% per year. His income totals Php 55,250.00 a year. How much did Joshua invest at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
let him invest x in each fund
5%x+8%x= 55250
multiply by 100
5x+8x = 5525000
13x= 5,525,000
x=425,000 in each investment
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