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March 27, 2017

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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 - ,

    part invested at 8% ---- x
    part invested at 7.2% -- 24000-x)

    income from first = .08x
    income from 2nd = .072(24000-x)

    .08x = (2/3)(.072)(24000-x)
    .24x = .144(24000-x)
    .24x = 3456 - .144x
    .384x=3456
    x = 9000

    so $9000 invested at 8%
    and $15000 invested at 7.2%

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