SOLUTION: Fred received an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 14%. How much should

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Fred received an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 14%. How much should       Log On


   

Question 1118485: Fred received an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 14%. How much should he invest at each rate?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
0.15x + 0.12(13,500 - x) = 0.14(13,500)
0.15x + 1,620 - 0.12x = 1,890
0.03x = 270
x = 9,000
He should invest 9,000 at 15% and 13,500-9,000 = 4,500 at 12% to get an average return on both investments of 14%