Question

Heather has divided ​$5900 between two​ investments, one paying 9%, the other paying 4​%. if the return on her investment is ​$346, how much does she have in each​ investment?

Answer 1

Heather invested $2,200 at 9% and invested $3,700 at 4%

What represents the amount invested in each asset?

The amount invested at 9% can be represented as x whereas the balance invested at 4% is (5900-x), as a result, the interest earned on each is computed thus:

Interest 9%=x*9%

interest at 9%=0.09x

Interest at 4%=(5900-x)*4%

interest at 4%=236-0.04x

Total interest=0.09x+236-0.04x

total interest=0.05x+236

Total interest earned=346

346=0.05x+236

346-236=0.05x

110=0.05x

x=110/0.05

x=$2,200(invested at 9%)

amount invested at 4%=5900-2200

amount invested at 4%=$3,700

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