SOLUTION: An investment banker received a bonus and invested that money in two investments. He put a certain sum of money in the first investment that returned 8% interest after one year. In
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Question 909557: An investment banker received a bonus and invested that money in two investments. He put a certain sum of money in the first investment that returned 8% interest after one year. In the second investment he invested three times that of the first investment and got a 17% interest return after one year. If the total interest from his investments after one year was $10,030.00, find the amount invested at each interest rate.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 8%. Then 
is the amount invested at 17%. The return on the 8% investment is then given by 
and the return on the 17% investment is \ =\ 0.51x)
. The sum of the two returns is $10,030, so:
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
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