SOLUTION: A person invests some money at 14%, with $8,000 more than this amount invested at 12%. The total annual income from the investments is $9,280.
How much is invested at 14%?
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How much is invested at 14%?
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Question 1008976: A person invests some money at 14%, with $8,000 more than this amount invested at 12%. The total annual income from the investments is $9,280.
How much is invested at 14%? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! X=INVESTED AT 14%
X+8000=INVESTED AT 12%
INCOME=
.14X+(.12)(x+8000)=.14X+.12X+960=9280
.26X=8320
X=$32000 answer
X+$8000=$40000
INTEREST ON FIRST IS $4480
(.12)(x+8000)=$4800
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