document.write( "Question 270651: corporate investments The financial board of a corporation invested $25000 overseas, part at 4% and part at 7% annual interest.Find the amount invested at each rate if the first year combined income from the two investment was $1300 \n" ); document.write( "
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corporate investments The financial board of a corporation invested $25000 overseas, part at 4% and part at 7% annual interest.Find the amount invested at each rate if the first year combined income from the two investment was $1300\r
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\n" ); document.write( "\n" ); document.write( "Amount invested be x in 7% deposit\r
\n" ); document.write( "\n" ); document.write( "Amount invested in 4% deposit will be 25000-x\r
\n" ); document.write( "\n" ); document.write( "the iinterest earned on the first one above will be 0.07x\r
\n" ); document.write( "\n" ); document.write( "The interest earned on the second one will be 0.04(25000-x)\r
\n" ); document.write( "\n" ); document.write( "The sum of both the interests is 1300\r
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\n" ); document.write( "\n" ); document.write( "0.07x + 0.04(25000-x)= 1300\r
\n" ); document.write( "\n" ); document.write( "0.07x + 1000 - 0.04x = 1300\r
\n" ); document.write( "\n" ); document.write( "0.07x-0.04x= 1300 - 1000\r
\n" ); document.write( "\n" ); document.write( "0.03x = 300\r
\n" ); document.write( "\n" ); document.write( "x= 10000\r
\n" ); document.write( "\n" ); document.write( "26000-x=25000-10000=15000\r
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\n" ); document.write( "\n" ); document.write( "$15000 was invested at 4% and $10000 at 7%\r
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