SOLUTION: A total of $12,000 is invested, part at 6% interest and part at 3%. If the annual,return is the same for these investments, how much is invested at each are?
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Question 1063019: A total of $12,000 is invested, part at 6% interest and part at 3%. If the annual,return is the same for these investments, how much is invested at each are? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! Let n be the amount invested at 6%. Then the amount invested at 3% would be 12000-n. So:
.06n=.03(12000-n)
.06n=360-.03n
.09n=360
n=4000
$4000 was invested at 6%; $8000 was invested at 3%. ☺☺☺☺
