SOLUTION: I need help in this problem, thank you.
If $2000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly i
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If $2000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly i
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Question 682832: I need help in this problem, thank you.
If $2000 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 ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! x = 2000 at 10%
.1x + .12y = 5000
.1(2000) + .12y = 5000 ⇒ substitute 2000 for x
200 + .12y = 5000
.12y = 5000 - 200
.12y = 4800
y = 40,000
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