SOLUTION: A man invested part of his money at 5% per year, and twice that amount at 6% per year. If the return of the two investment is 5,500, how much each investment?
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Question 328359: A man invested part of his money at 5% per year, and twice that amount at 6% per year. If the return of the two investment is 5,500, how much each investment? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! 5% per year. let him invest $ x
6% per year he invests double = 2x
..
0.05x+0.06*2x= 5500
0.05x+0.12x=5500
0.17x=5500
x= $ 32353 at 5%
2x= 2*32353= $64705 at 6 % rounded off
