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Arlecino [84]
1 year ago
14

They work-infested $18,000 into accounts, one yielding 4% interest and the other yielding 12%. If he received a total of $1,280

and interest at the end of the year, how much did he invest at 4%?​
Mathematics
1 answer:
lakkis [162]1 year ago
3 0

Answer:

<u>$11,000</u>

Step-by-step explanation:

Let amount invested for 12% yield be <em>p . </em>Amount for 4% yield is therefore (<em>18000-p)</em>

Interest for 12%:<em> 12% of p=0.12p</em>

Interest for 4%: <em>4% of </em>(<em>18000-p)=0.04(18000-p)=720-0.04p</em>

Total interest:

<em>=0.12p</em> + (<em>720-0.04p)</em>

<em>=0.12p-0.04p+720</em>

<em>=0.08p+720</em>

But we already know the total interest is 1280

Therefore: <em>0.08p+720=1280</em>

<em>0.08p=1280-720</em>

<em>0.08p=560</em>

<em>p=560÷0.08</em>

<em>p=7000</em>

Therefore at 4% the person invested:

(<em>18000-p)</em>

<em>18000-7000</em>

<em>$11,000</em>

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