SOLUTION:
Jenny wishes to invest $20,000 in two different funds which yield annual profits of 12.5% and 14% respectively. Find how much she should invest in order to make an annual profit
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Question 702985:
Jenny wishes to invest $20,000 in two different funds which yield annual profits of 12.5% and 14% respectively. Find how much she should invest in order to make an annual profit of $2710.
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.14X+.125(20000-X)=2710
.14X+2500-.125X=2710
.015X=2710-2500
.015X=210
X=210/.015
X=14000 AMOUNT INVESTED @ 14%.
20000-14000=6000 AMOUNT INVESTED @ 12.5%
PROOF:
.14*14000+.125*6000=2710
1960+750=2710
2710=2710
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