SOLUTION: A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively. If he received a total of $11,600, how much did he invest at 7%

Question 934187: A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively. If he received a total of $11,600, how much did he invest at 7%
Answer by ptfile(81) (Show Source): You can put this solution on YOUR website!

Let x = amount invested at 5%
    y = amount invested at 7%

A businessman invests total of $200,000 in two companies which paid dividends of 5% and 7% respectively.
x+y=200000

If he received a total of $11,600
.05x.07y=11600
   x+  y=200000

-.07x-.07y=-14000
 .05x+.07y= 11600
------------------
     -.02x=-2400
         x=120000
         y= 80000

At the interest rate 7%, he only invested $80,0000.

RELATED QUESTIONS
Juan invested $24,000 into two stocks. The first stock paid a 4% dividend and the second... (answered by greenestamps)

A wealthy businessman owns a complex which contains 30 apartment. He gets paid R3 000 per (answered by stanbon)

Samantha invests a total of $25,000 in two accounts paying 7% and 4% annual interest,... (answered by Boreal)

A businessman wishes to invest $20,000 in two different funds which yield annual profits... (answered by mananth)

32 Portfolio Management A portfolio manager is concerned that two stocks generate an... (answered by Theo,ikleyn)

Dilbert invests a total of $20,000 in two accounts paying 11% and 2% annual interest,... (answered by josgarithmetic,greenestamps,Alan3354)

Hello Question Lisa was offered two payment options for a three month long job. If she (answered by Theo)

6. Alternative A: How much will be the total amount that John will get if he invests Php (answered by ikleyn)

Matt invested $2000 in stocks and bonds. This year the bonds paid 8% interest and the... (answered by josmiceli)