Problema Solution
Jo invested part of her $8000 at 12% and part at 8%. If the annual investment income is $825, how much was invested at each rate?
Answer provided by our tutors
let
x = the money invested at 12%
y = the money invested at 8%
x + y = 8000
the annual investment income is $825
0.12x + 0.08y = 825
by solving the system of equations
x + y = 8000
0.12x + 0.08y = 825
we find
x = $4,625
y = $3,375
click here to see the step by step solution of the system of equations
Jo invested $4,625 at 12% and $3,375 at 8%.