An amount of $700 is invested partly at 8% and partly at 10%. The yearly income from both investments is $64. The amount investe d at 8% is k dollars. What is the value of k?
1 answer:
A8% is X 10% is 700-X X(.08)+ .10(700-X)= 64 .08x+ 70-.10X=64 -.02X+70=64 -70=-70 -.02x= -6 Divide by -.02 X= 300 Answer $300 was invested at 8% Check 300 times .08= 24. 700-300=400 times .10 = 40 and 24+40=64
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