Question 184685: Scott invests $1260 more at 8% than he invests at 12%. The interest from the two investments is the same. How much did he invest at 8%? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Scott invests $1260 more at 8% than he invests at 12%. The interest from the two investments is the same. How much did he invest at 8%?
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Let amt. invested at 12% be "x".
Then amt. invested at 8% is "1260+x"
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interest = interest
0.12x = 0.08(1260+x)
12x = 8*1260 + 8x
4x = 8*1260
x = $2520 (amt. invested at 12%)
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1260 + x = 1260 + 2520 = $3780 (amt. invested at 8%)
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Cheers,
Stan H.
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