Homework Help: algebra

Posted by norbert on Saturday, June 13, 2009 at 10:10pm.

you invested $8000, part of it in stock that paid 12% annual interest. however, the rest of the money suffered a 5% loss. if the total annual income from both investments was $620, how much was invested at each rate?

algebra - drwls, Saturday, June 13, 2009 at 11:41pm
If x was invested at 12%, then 8000-x suffered a 5% loss.
0.12x -0.05(8000-x) = 620
0.12x - 400 + 0.05x = 620
0.17x = 1020
Solve for x

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