Question 458796: please help me solve this problem. a person wishes to invest $20.000 int two enterprises so total income per year will be $1440. one enterprise pay 6% annualy, the other has more risk and pays 7,5% annualy. how much must be invested in each?
Answer by amoresroy(361)   (Show Source):
You can put this solution on YOUR website! Let x = investment at 6% annually
20,000- x = investment at 7.5% annually
Equation:
.06x + .075(20,000-x) = 1440
.06x + 1500 -.075x = 1440
.015x = 60
x = 4000
20,000 - x = 16,000
$4,000 must be invested at 6% and $16,000 must be invested at 7.5%
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