Things did not go quite as planned. you invested $20,000, part of it in a fund that paid 12% annual interest. however, the rest of the money suffered a 5% loss. if the total annual income from both investments was $1890, how much was invested at each rate?

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Business

Adison

29 August, 15:58

Things did not go quite as planned. you invested $20,000, part of it in a fund that paid 12% annual interest. however, the rest of the money suffered a 5% loss. if the total annual income from both investments was $1890, how much was invested at each rate?

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Answers (1)

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Anabelle Andersen · Answer 1

0.12 (20000-x) - 0.05x=1890

Solve for x

2400-0.12x-0.05x=1890

-0.12x-0.05x=1890-2400

-0.17x=-510

X=510:0.17

X=3,000. Invested at 5%

20000-3000=17000 invested at 12%