SOLUTION: Things did not go quite as planned. You invested part of $8000 in an account that paid 12% annual interest. However the rest of the money suffered a 5%loss. If the total annual inc
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Question 323062: Things did not go quite as planned. You invested part of $8000 in an account that paid 12% annual interest. However the rest of the money suffered a 5%loss. If the total annual income from both investments was $620 how much was invested in each rate? Answer by galactus(183) (Show Source):
You can put this solution on YOUR website! Let x=amount invested at 12%.
Then, the remaining amount invested at 5% must be 8000-x
.12x-.05(8000-x)=620
Solve for x.
