SOLUTION: im having difficulty with this problem.Please help me.
Mari Lopez has twice as much money invested at 5% simple annual interest as she does at 4%.if her yearly income from these t
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Mari Lopez has twice as much money invested at 5% simple annual interest as she does at 4%.if her yearly income from these t
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Question 186685This question is from textbook introuctory algebra
: im having difficulty with this problem.Please help me.
Mari Lopez has twice as much money invested at 5% simple annual interest as she does at 4%.if her yearly income from these two investments is$350,how muc does she have invested at each rate. This question is from textbook introuctory algebra
You can put this solution on YOUR website! Suppose she invested an amount P at 4%, she had invested 2P (ie twice) at 4%
Her returns from both is (4/100)P + (5/100)2P = (4P/100) + (10P/100)
=14P/100 which is $350
So we can equate this as
14P/100 =350 ; so P = 35000/14 = $2500
She invested $2500 at 4%
And she invested 2P that is $5000 at 5%
Hope the steps are clear.
For further clarifications you may write to me at :udayakumar.t.r@gmail.com
