Ask Experts Questions for FREE Help !
Ask
    Gift's Avatar
    Gift Posts: 11, Reputation: 1
    New Member
    		  
    #1

    May 8, 2007, 01:55 PM
    Investing some money and asked for how much
    I can't figure out what I should do to solve this question. So I think someone could help me! :)


    "A man invests some money at 8 percent interest and twice as much at 6 percent. If the total income from the two investments is $250,how much is invested at the lower rate?"
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    May 8, 2007, 02:29 PM
    This is a straight-forward algebra problem with 2 equations in 2 unknowns. The unknowns are:

    A: the amount invested that pays 8%
    B: the amount invested that pays 6%.

    can you see how to set these 2 unknowns up into 2 equations?
    Gift's Avatar
    Gift Posts: 11, Reputation: 1
    New Member
    		  
    #3

    May 8, 2007, 02:32 PM
    Not really! :(
    I'm still confused with what the two investments are going to be.
    I don't know how to figure it out.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #4

    May 8, 2007, 02:44 PM
    The man earns $250 consisting of 0.08*A plus 0.06*B, and the amount of B is twice the amount of A. Two equations in two unknowns. Solve for B.
    Gift's Avatar
    Gift Posts: 11, Reputation: 1
    New Member
    		  
    #5

    May 8, 2007, 03:21 PM
    OHHH I SEE!!
    Thank you so much for helping me out!
    I got it!! YEAH :]
    Thanks again!
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Should I have asked her after 3 1/2 years? [ 3 Answers ]

My girlfriend dumped me 2 months ago said she needed a break .Said we were only going day to day... Ive realised now what she may have meant is I did not ever aske her to marry me... We had a grreat relationship no problems, but she had said once before that she needs to realise weather the...

Asked to go out by the x? [ 7 Answers ]

Were in our early twenty's and we lived together for two years and I thought the grass was going to be greener on the otherside... it wasn't. We have been apart for six months and have been dating other people. I did the whole N.C. rule for about three months got over the grieving but of coarse...

Investing money per year with 6% and have 20 years to have 1M [ 2 Answers ]

How much would I need to invest per year with 6% and 20 years to have a 1M a the end?

Hi all probably asked before but [ 3 Answers ]

I have a 10 year old whirlpool washer that just stopped agitating?? Evry thing els works fine.

View more questions Search