Saturday, March 21, 2020

If $28000 was invested part at 14% and part at 9%, and the return after a year was $3370?

Jude Colbenson: Let x be the amount invested at 14%. Then,(14/100)x + (9/100)(28000-x) = 3370Multiply both sides by 100 and you get14x + 9(2800-x) = 337000 or,14x + 252000 - 9x = 337000 then, subtracting 252000 from both sides,5 x = 85000, sox = 85000/5 = 1700017,000 was invested at 14% leaving 11,000 at 9%Check: .14(17000) + .09(11000) = 2380 + 990 = 3370...Show more

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