SOLUTION: Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much is invested at each rate if the total return after one year is $950?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much is invested at each rate if the total return after one year is $950?
Log On
Question 1097361: Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much is invested at each rate if the total return after one year is $950? Answer by ikleyn(52790) (Show Source):
Actually, it is absolutely standard problem on investments.
You will meet it tens times during your school years, so it it much better to learn on how to do it once for all
than ask tutors to solve it instead of doing it on your own.
So, the correct question from your side would be: "where I can learn about it ?"
