Posted by **Shakeria** on Tuesday, June 29, 2010 at 10:16am.

Lisa Chen invested $24,000, part at 8% and the rest at 7.2%. How much did she invest at each rate if her income from the 8% investment is two thirds that of the 7.2% investment?

- algebra 2 -
**Henry**, Thursday, July 1, 2010 at 9:40pm
Because the two interest rates are slightly different,the investment

at 8% will be less than 2/3 of the

7.2% investment by an amount equal

to the difference between the interest

rates. 2/3=0.6666, 0.6666-(.08-.072)=

0.6586. The investment at 7.2%=X dollars, The investment at 8%=0.6586X

dollars. X+0.6586X=24000, X=14470.03

0.6586X=9529.96

INV @ 7.2%=14,470.03

INV @ 8%=9529.96

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