Question 1188420: a) A total of $40,000 was invested, part of it at 12% interest and the remainder at 15%.
If the total yearly interest from both investments was $5,800. How much was invested at each rate
Found 2 solutions by greenestamps, josgarithmetic:
Answer by greenestamps(13326)   (Show Source):
You can put this solution on YOUR website!
Bad data, requiring answers that are not whole numbers of dollars, and not even whole numbers of cents....
x = amount invested at 12%
40000-x = amount invested at 15%
The total interest was 5800:
You can do the algebra to try to find the answer.
Here is a quick informal way to find the answer.
All $40,000 invested at 12% would yield $4800 interest; all at 15% would yield $6000.
Look at the three numbers 4800, 5800, and 6000 on a number line and observe/calculate that 5800 is 1000/1200 = 5/6 of the way from 4800 to 6000.
That means 5/6 of the total was invested at the higher rate.
5/6 of $40,000 is not a whole number....
Answer by josgarithmetic(39790)  (Show Source):
|
|
|
