You have 420 saved for retirement. Your account earns 18% interest. How much will you be able to pull out each month, if you wan
1 answer:
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Answer:
The person invested $3500 at 7% and $2500 at 5%
Step-by-step explanation:
We can say that because the investment is equal both in one as in another, where x is the income from the investment.
Solving the equation we have:
Then to get the incomes:
At 7%:
And at 5%:
Finally we can demonstrate the answer because the income at 7% + income at 5% are 3500+2500=$6000