Posted by Alicia on .
Ramona divided his 35,000 inheritance between two investments, one paying 9% and the other 12% simple interest. is total annual income on the interest alone was 3,000. How much did he invest at 9%?
Algebra - eh? -
if x at 9%, then 35000-x at 12%, so
.09x + .12(35000-x) = 3000
x = 40000
what? Hmmm. Even if the whole 35,000 were invested at only 9%, that would still be $3150 interest. I suspect a typo somewhere.