Solve the problem.
-If $2000 is invested at 10% annual interest, how much should be invested at 12% annual interest so that the total yearly income from both investments is $5000?
A) $47,600
B) $4760
C) $4000
D) $40,000

Question

Quizplus · Accepted Answer

To find the amount to be invested at 12%, let x be the amount. The income from $2000 at 10% is $200. The income from x at 12% is 0.12x. The total income is $200 + 0.12x = $5000. Solving for x gives x = $40,000.

Solve the Problem. -If $2000 Is Invested at 10% Annual Interest, How Much