SOLUTION: John Gordon invested $1,000, part at 5% and the rest at 6.5%. The income from the 5% investment exceeded the income from the 6.5% investment by $1.70. How much did he invest at eac
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Question 1152821: John Gordon invested $1,000, part at 5% and the rest at 6.5%. The income from the 5% investment exceeded the income from the 6.5% investment by $1.70. How much did he invest at each rate! Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x a 5% interest is .05x
1000-x at 6.5% interest is .065(1000-x)=65-0.65x
the first is 1.70 more than the second
so .05x-1.70=65-0.065x
0.115x=66.70
x=$580 at 5% and interest is $29
1000-x=$420 at 6.5% and interest is $27.30
