Question 462625: a total of $12,500 is invested , part at 6% and part at 3%. if the annual return intrest from the two investments is the same, how much is invested at each rate?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! a total of $12,500 is invested , part at 6% and part at 3%. if the annual return interest from the two investments is the same, how much is invested at each rate.
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let x=$ amt invested at 6%
12500-x=$ amt invested at 3%.
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annual return interest from 6% invesrment=.06x
annual return interest from 3% invesrment=.03(12500-x)
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.06x=.03(12500-x)
.06x=375-.03x
.09x=375
x=375/.09=4166.67
12500-x=8333.33
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Ans:
$4166.67 invested at 6% rate
$8333.33 invested at 3% rate
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