Question 587171: Mr. Anders has $13,000 invested, part in high growth stock at an annual rate of 8 percent and the remainder in a savings account at an annual rate of 6 percent. If the annual interest is $900, what amount is invested at 8 percent?
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! Mr. Anders has $13,000 invested, part in high growth stock at an annual rate of 8 percent and the remainder in a savings account at an annual rate of 6 percent. If the annual interest is $900, what amount is invested at 8 percent?
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let x=$ amt invested at 8%
13000-x=amt invested at 6%
..
.08x+.06(13000-x)=900
.08x+780-.06x=900
.02x=120
x=120/.02=6000
13000-x=7000
ans:
amt invested at 8%=$6000
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