SOLUTION: You inherit $13000 and you decide to invest the money in two different ways : one paying 10% and the other paying 14%. A year later your investments are worth %14580. How much did
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Question 630727: You inherit $13000 and you decide to invest the money in two different ways : one paying 10% and the other paying 14%. A year later your investments are worth %14580. How much did you originally invest in each account ? Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! You inherit $13000 and you decide to invest the money in two different ways : one paying 10% and the other paying 14%. A year later your investments are worth %14580. How much did you originally invest in each account ?
.
Let x = amount ($) invested at 14%
then
13000-x = amount($) invested at 10%
.
.14x + .10(13000-x) = 14580-13000
.14x + 1300-.10x = 1580
.04x + 1300 = 1580
.04x = 280
x = $7000 (amount invested at 14%)
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amount invested at 10%:
13000-x = 13000-7000 = $6000
