On 2 investments totaling 15,00, peter lost 2% on one and earned 8% on the other. If his annual receipts were $204, how much was each investment?
To find the amount invested in each investment, we can set up a system of equations based on the given information.
Let's assume that Peter invested x dollars in the first investment and (1500-x) dollars in the second investment.
According to the given information, Peter lost 2% on the first investment and earned 8% on the second investment.
To calculate the loss or gain on an investment, we multiply the amount invested by the percentage. In this case, the loss on the first investment is (2/100)x = 0.02x, and the gain on the second investment is (8/100)(1500-x) = 0.08(1500-x).
The total annual receipts from both investments are $204. Therefore, we can set up the following equation:
0.02x + 0.08(1500 - x) = 204
Now, let's solve this equation to find the value of x:
0.02x + 0.08(1500 - x) = 204
0.02x + 120 - 0.08x = 204
0.02x - 0.08x = 204 - 120
-0.06x = 84
x = 84 / (-0.06)
x = -1400
Since negative values don't make sense in this context (as investments cannot be negative), we can conclude that there was an error in the problem statement or calculations.
Please double-check the provided information, and make sure all values and percentages are correct.