SOLUTION: Kate invests $11,700, part at 7% and the rest at 6%. The annual rate of return on the investments is actually the same. How much did she invest at each rate?
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Question 872611: Kate invests $11,700, part at 7% and the rest at 6%. The annual rate of return on the investments is actually the same. How much did she invest at each rate? Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! Kate invests $11,700, part at 7% and the rest at 6%. The annual rate of return on the investments is actually the same. How much did she invest at each rate?
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let x=amt invested at 7%
11700-x=amt invested at 6%
..
7%x=6%(11700-x)
.07x=702-.06x
.13x=702
x=5400
11700-x=6300
amt invested at 7%=$5,400
amt invested at 6%=$6,300
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