Ask Question
26 May, 22:48

An executive invests $22,000, some at 8% and the rest at 6% annual interest. If he receives an annual return of $1,660, how much is invested at each rate?

+2
Answers (1)
  1. 27 May, 01:30
    0
    Here's the equation I'm using:

    0.08n + 0.06 (22000-n) = 1660

    Multiply both sides by 100:

    8n + 132000-6n = 166000

    Simplify:

    2n + 132000 = 166000

    Isolate n:

    2n = 34000

    n = 17000

    8% invested: 17000

    6% invested: 5000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “An executive invests $22,000, some at 8% and the rest at 6% annual interest. If he receives an annual return of $1,660, how much is ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers