SOLUTION: On two investments totaling 10,500, Peter lost 4% on one and earned 6% on the other. If his net annual receipts were $185, how much was each investment?

Algebra ->  Inequalities -> SOLUTION: On two investments totaling 10,500, Peter lost 4% on one and earned 6% on the other. If his net annual receipts were $185, how much was each investment?      Log On


   

Question 633045: On two investments totaling 10,500, Peter lost 4% on one and earned 6% on the other. If his net annual receipts were $185, how much was each investment?
Answer by graphmatics(170) About Me  (Show Source):
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Let x be the investment amount of the 6% earned interest, then 10500-x is the investment amount of the 4% loss interest. The earned interest, .06x, minus the loss interest, .04(10500-x), is 185. .06x- .04(10500-x)=185. .1x-.04*10500=185. .1x-420=185. .1x=605. x=605/.1. x=6050. So the 6% investment is $6050 and the 4% investment is $4450