SOLUTION: On two investments totaling $6,000, Peter lost 6% on one and earned 9% on the other. If his net annaul receipts were $327, how much was each investment?
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Question 621574: On two investments totaling $6,000, Peter lost 6% on one and earned 9% on the other. If his net annaul receipts were $327, how much was each investment?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested losing 6%
Let = amount invested making 9%
given:
(1)
(2)
-----------------------
(2)
Multiply both sides of (1) by ,
then add the equations
(1)
(2)
and since,
(1)
(1)
(1)
The amount invested losing 6% was $1,420
The amount invested making 9% was $4,580
check answer:
(2)
(2)
(2)
OK
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