Question 867536: on two investments totaling $14,500.00, Emma lost 3% on one and earned 7% on the other. If her net annual receipts were $111.00, how much was each investment?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! on two investments totaling $14,500.00, Emma lost 3% on one and earned 7% on the other. If her net annual receipts were $111.00, how much was each investment?
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Quantity Eq:: t + s = 14,500
Interest Eq::3t + 7s = 11,100
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Modify for elimination::
3t + 3s = 43500
-3t + 7s = 11100
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Add and solve for "s":
10s = 54600
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s = $5460.00 (amount invested at 7%
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Solve for "t"::
t + s = 14500
t + 5460 = 14500
t = $9040.00 (amount invested at 3%)
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Cheers,
Stan H.
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