SOLUTION: word problems stump me so bad and I am again stumped? can someone help me with this one?
two investments totaling $19,500 produce an annual income of $1085. one investment yields
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two investments totaling $19,500 produce an annual income of $1085. one investment yields
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Question 912210: word problems stump me so bad and I am again stumped? can someone help me with this one?
two investments totaling $19,500 produce an annual income of $1085. one investment yields 8% a year, while the other yields 3% per year. how much is invested at each rate?
Thank you in advance
Scott
You can put this solution on YOUR website! two investments totaling $19,500 produce an annual income of $1085. one investment yields 8% a year, while the other yields 3% per year. how much is invested at each rate?
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let x=amt invested at 8%
19500-x=amt invested at 3%
.08x+.03(19500-x)=1085
.08x+585-.03x=1085
.05x=500
x=10000
19500-x=9500
amtinvested at 8%=$10000
amt invested at 3%=$9500
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