Question 115895: Ms. Mills invested her $20,000 bonus in two accounts. She took a 4% loss on one investment and made a 12% profit on another investment, but ended up breaking even. How much was invested in each account?
Answer by Fombitz(32388)   (Show Source):
You can put this solution on YOUR website! Let's call the amount at 4%, F, and at 12%, T.
Here's what you know.
1. Total is $20,000.
Gain is positive interest, loss is negative interest.
2. Interest from both broke even (totaled zero).
Let solve equation 2 for F in terms of T.
2.
Now substitute that value in equation 1 and solve for T.
1.
and
Check the answers
1. Total is $20,000
2. Loss at 4% = (0.04)(15,000) = -6,000
Gain at 12% = (0.12)(5,000) = 6,000
Sum is zero.
Good answers.
$5,000 at 4% and $15,000 at 12%.
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