things do not go quite as planned. you invested $8000, part of it in stock that paid 12% annual interest. however, the rest of the money suffered a 55 loss. if the total annual income from both investments was $620, how much was invested at each rate?
math - Reiny, Thursday, October 21, 2010 at 8:50am
Since the total profit was 620 which included the loss of 55, there must have been a profit of 675 from the first investment.
Assuming we are looking only at the one year, the question now becomes a simple interest problem where
I = 675
R = .12
T = 1
P = I/(RT)
= 675/.12 = 5625
so he invested $5625 at 12% ( the winner) and
$2375 in the losing investment.
math - marlen, Thursday, March 10, 2011 at 11:01pm
what is 9000at 3%simple interest for 2and 1/2