Question 897606: mr west invested $7200, part at 4% and the rest at 5%. if the annual incomes from both investments were equal, find the amount invested at each
I just need to know how to set up this type of problem
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! mr west invested $7200, part at 4% and the rest at 5%. if the annual incomes from both investments were equal, find the amount invested at each
I just need to know how to set up this type of problem
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let x=amt invested in one of the accounts, say, 4%
7200-x=remainder of money invested in other, 5% account
income=interest rate*account
since incomes are equal
4%x=5%(7200-x)
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