SOLUTION: IF 14000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly income from both investments is 5000?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: IF 14000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly income from both investments is 5000?
Log On
Question 40468: IF 14000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly income from both investments is 5000? Answer by Nate(3500) (Show Source):
You can put this solution on YOUR website! I = PRT = 14000 * 0.1 * 1 = 1400
5000 - 1400 = 3600
so ....
3600 = P * 0.12 * 1
3600/0.12 = P
Your principle should be $30,000.00
(