SOLUTION: An investor invested some money at 7% and some money at 5%. If the yearly interest on both investments is the same and the total amount of investments is $12000, find the amount of
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Question 716579: An investor invested some money at 7% and some money at 5%. If the yearly interest on both investments is the same and the total amount of investments is $12000, find the amount of both investments. Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! An investor invested some money at 7% and some money at 5%. If the yearly interest on both investments is the same and the total amount of investments is $12000, find the amount of both investments.
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let x=amount invested at 7%
12000-x=amount invested at 5%
..
7%x=5%(12000-x)
.07x=600-.05x
.12x=600
x=5000
12000-x=7000
amount invested at 7%=$5000
amount invested at 5%=$7000
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