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Question 935084: A certain amount is invested at 5 % per year, and Php 7000 less than this amount is invested at 6% per year.The investment yield Php 8820 yearly.How much was each investment ? EXPLAIN pls
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! x = amount invested at 5% per year.
x - 7000 is invested at 6% per year.
investment yields 8820 each year.
how much was invested at each percent?
the interest on each investment at the end of the year is shown below:
5% investment gives you .05 * x at the end of the year.
6% investment gives you .06 * (x - 7000) at the end of the year.
total interest earned at the end of the year is equal to 8820.
this means that the equation you are looking for is:
.05 * x + .06 * (x - 7000) = 8820
this means that the interest on the first investment plus the interest on the second investment must be equal to 8820.
solve for x in this equation to get x = 84,000
interest on first investment is equal to .05 * 84,000 = 4200
interest on second investment is equal to .06 * 77,000 = 4620
add them up together to get total interest of 8820 at the end of the year.
the numbers look good.
your first investment was 84,000
your second investment was 77,000 which is 7,000 less than 84,000.
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