SOLUTION: An investor has 300,000 to invest. If part is invested at 5% and the rest at 9% how much should be invested at 5% to yield 8% on the total amount?

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Question 330537: An investor has 300,000 to invest. If part is invested at 5% and the rest at 9% how much should be invested at 5% to yield 8% on the total amount?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.09X+.05(300,000-X)=.08*300,000
.09X+15,000,000-.05X=24,000
.04X=24,000-15,000
.04X=9,000
X=9,000/.04
X=$225,000 AMOUNT INVESTED @ 9%.
300,000-225,000=$75,000 AMOUNT INVESTED @ 5%.