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28 September, 11:20

Heather has divided $6700 between two investments, one paying 8%, the other paying 5%. If the return on her investment is $428, how much does she have in each investment?

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  1. 28 September, 11:25
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    First investment = $3100

    Other investment = $3600

    Step-by-step explanation:

    Total investment made by Henry = $6700

    Let one investment be x,

    Then other investment = total investment - first investment = 6700 - x

    A) For 8% interest, investment = x

    dollar value of 8% investment = 8/100*x = 8x/100

    A) For 5% interest, investment = 6700 - x

    dollar value of 8% investment = 5/100 * (6700 - x) = 5 (6700 - x) / 100

    Total return on both the investment = 8x/100 + 5 (6700 - x) / 100

    = (8x + 33500 - 5x) / 100 = (3x+33500) / 100

    Given that total return = 428

    Therefore,

    (3x+33500) / 100 = 428

    => 3x+33500 = 428*100 = 42800

    => 3x = 42800 - 33500 = 9300

    => x = 9300/3 = 3100

    Thus, first investment = x = $3100

    other investment = $ (6700 - 3100) = $3600
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