Question 1067686
Amount invested at 8%: x
Amount invested at -5%: 16,000-x
0.08x-0.05(16,000-x) = 890
0.08x-800+0.05x = 890
0.13x = 1690
x = 13,000
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Check:
at 8%: 13,000*0.08 = 1,040
at 5% (16,000-13,000)*0.05 = 150
Subtract, since the amount at 5% was a loss:
1,040-150 = 890 Correct
:
John