An executive invests $26,000, some at 8% and some at 6% annual interest. If he receives an annual return of $1,860, how much is

Question

klasskru [66]

3 years ago

10

An executive invests $26,000, some at 8% and some at 6% annual interest. If he receives an annual return of $1,860, how much is

invested at each rate?
at 8% interest $
at 6% interest $

Mathematics

1 answer:

S_A_V [24] · Answer 1 · 2022-05-15T18:08:27+03:00

S_A_V [24]3 years ago

5 0

Let x = amount invested at 8%
26000 - x = amount invested at 6%

0.08x + 0.06(26000 - x) = 1860

solving the equation you get x = 15000
and subtract that from 26000 you get 11000
8% investment = 15000
6% investment = 11000