SOLUTION: roland inherited a certain amount of money from his grandfather. he invested part of it in a trust found earning 8% annual simple interest. the rest of the amount, which was twice
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Question 1134978: roland inherited a certain amount of money from his grandfather. he invested part of it in a trust found earning 8% annual simple interest. the rest of the amount, which was twice the first investment , was invested in a trust found earning 10% annual simple interest. The total annual interest from the two investments was 8400. how much was invested at each rate? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x was amount invested at 8%
2x was invested at 10%
.08x+2x*0.10=0.28x
0.28x=8400
x=$30000 @ 8%=$2400
2x=$60000 @ 10%=$6000
total is $8400
