Question

You have ​$23 comma 000 to​ invest, part at 8 % and the rest at 9 %. If x is the amount invested at 8 %​, write an algebraic expression that represents the total annual income from both investments. Simplify the expression.

Answer 1

x = amount invested at 8 %. Then 23 000 - x = amount invested at 9 %

Annual income (I) = interest at 8 % + interest at 9 %

I = 0.08x + 0.09(23 000 – x)

I = 0.08x + 2070 – 0.09x

I = 2070 – 0.01x