SOLUTION: An investment banker received a bonus and invested that money in two investments. He put a certain sum of money in the first investment that returned 8% interest after one year. In
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Question 909557: An investment banker received a bonus and invested that money in two investments. He put a certain sum of money in the first investment that returned 8% interest after one year. In the second investment he invested three times that of the first investment and got a 17% interest return after one year. If the total interest from his investments after one year was $10,030.00, find the amount invested at each interest rate.
Let represent the amount invested at 8%. Then is the amount invested at 17%. The return on the 8% investment is then given by and the return on the 17% investment is . The sum of the two returns is $10,030, so:
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
