You have invested $12,000 into two different companies company 1 earns you 6% on your investment each year and Company 2 earns y

Question

3 years ago

10

ou 50% each year if you earn $700 each year how much was invested in each company?

1 answer:

vovikov84 [41] · Answer 1 · 2022-09-03T23:38:01+03:00

The correct questions says 5% each year for Company 2.

The amount invested in companies A and B are; $10,000 and $2000 respectively.

<h3>Percentages on Investment</h3>

Let the amount in Company 1 be; x

Let the amount in Company 2 be; y

Hence, we have the equation;

Additionally, 6% is earned on company 1 and 50% on company 2.

Therefore, we have;

by solving the equation simultaneously;

Read more on simultaneous equations;