SOLUTION: A total of $8000 is invested , part at 3% and the rest at 4% per year. If the annual return on theses investments is $275, how much is invested at each rate?
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Question 142019: A total of $8000 is invested , part at 3% and the rest at 4% per year. If the annual return on theses investments is $275, how much is invested at each rate? Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .04x+.03(8000-x)=275
.04x+240-.03x=275
.01x=275-240
.01x=35
x=35/.01
x=3500 invested @ 4%
8000-3500=4500 invested @ 3%
proof:
.04*3500+.03*4500=275
140+135=275
275=275
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