Things did not go quite as planned. you invested $20,000, part of it in a fund that paid 12% annual interest. however, the rest of the money suffered a 5% loss. if the total annual income from both investments was $1890, how much was invested at each rate?

Question

Veronica Olsen

Business

1 January, 13:47

Things did not go quite as planned. you invested $20,000, part of it in a fund that paid 12% annual interest. however, the rest of the money suffered a 5% loss. if the total annual income from both investments was $1890, how much was invested at each rate?

+4

Answers (1)

Know the Answer?

Naomi Wiggins · Answer 1

0.12 (20000-x) - 0.05x=1890

Solve for x

2400-0.12x-0.05x=1890

-0.12x-0.05x=1890-2400

-0.17x=-510

X=510:0.17

X=3,000. Invested at 5%

20000-3000=17000 invested at 12%