SOLUTION: two investments in companies total $2000. If one investment earns 3% annually and the other earns 2% annually. Find the amount invested in each, if the total interest earned in $54
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Question 316179: two investments in companies total $2000. If one investment earns 3% annually and the other earns 2% annually. Find the amount invested in each, if the total interest earned in $54. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! let $ x be invested at 3 %
2000-x will be invested at 2%
..
interest equation
0.03x+0.02(2000-x)= 54
0.03x+40-0.02x=54
0.01x= 14
x=14/0.01
x= 1400 invested at2%
balance 600 at 2%
