you have $7200 in principal and invest different sums @ 10% and 14%. You receive 920 at end of term. (one year)What amounts are invested at what rate?
How do I solve this?
Hi,
Suppose that $x is the amount that is invested at 10%, then $(7200-x) is invested at 14%. At the end of the year you receive
$x
0.10 from the first investment
and
$(7200-x)
The total of these two amounts is $920.
Can you now find x?
Penny