SOLUTION: The Jones Family invested $1,200 more at 4% than at 7% in a low risk hedge fund, but the
income from each investment was the same. How much was invested at each rate?
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income from each investment was the same. How much was invested at each rate?
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Question 1075133: The Jones Family invested $1,200 more at 4% than at 7% in a low risk hedge fund, but the
income from each investment was the same. How much was invested at each rate? Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 0.07x = 0.04(x+1200)
0.07x = 0.04x+48
0.03x = 48
x = 1600
So, 1600 is invested at 7% and 1600+1200 = 2800 at 4%
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Check - The income from each was the same:
0.07(1600) = 112
0.04(2800) = 112
:
Happy learning,
John
