Answered

If a person receive a heritage and plans to invert one part at 9% and $2,000 more that the amount before in an invert less secured that gave 10%. How much the person need toinvert in each interest to win $1150 at year, by interest concept?

Answer :

Answer:

The person has to invest $5000 at 9% and $7000 at 10%.

Step-by-step explanation:

As stated in the problem, we have an ammount C that the person invest at 9% and an ammount (C+2000) that it is invested at 10%.

To gain $1150 a year, the ammount C needs to satisfy this equation:

[tex]C*0.09+(C+2000)*0.10=1150[/tex]

Applying distributive property,

[tex]0.09C+0.10C+200=1150\\0.19C=1150-200[/tex]

[tex]C=950/0.19\\C=5000[/tex]

So the person has to invest C=$5000 at 9% and (C+2000)=$7000 at 10% to gain $1150 of interest yearly.

Other Questions