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Question 1058544: on two investments totaling $6000, kevin lost 3% on one and earned 6% on the other. if his net annual receipts were $288, how much was each investment? answer
Answer by solve_for_x(190)   (Show Source):
You can put this solution on YOUR website! Let x represent the amount invested in the investment that lost value,
and let y represent the amount invested in the investment that gained
value.
Since the total investment was $6000, you can write:
x + y = 6000
The total amount gained is then
-0.03x + 0.06y = 288
Solving the first equation for y gives:
y = 6000 - x
Substituting 6000 - x in place of y in the second equation then gives:
-0.03x + 0.06(6000 - x) = 288
-0.03x + 360 - 0.06x = 288
-0.09x + 360 = 288
-0.09x = -72
x = -72 / -0.09
x = 800
Then y = 6000 - 800 = 5200
Solution: $800 was invested in the account the lost value, and $5200 was invested
in the account that gained value.
Check:
x + y = 800 + 5200 = 6000
-0.03x + 0.06y = (-0.03)(800) + (0.06)(5200) = -24 + 312 = 288
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