Marvin invests 300 more at 6% than at 8%. His total annual income from his investment is 242. How much did he invest in each rate?

skystasvs

skystasvs

Answered question

2022-09-03

Marvin invests 300 more at 6% than at 8%. His total annual income from his investment is 242. How much did he invest in each rate?

Answer & Explanation

Karla Bautista

Karla Bautista

Beginner2022-09-04Added 16 answers

x= amount invested at 8%
x+300 = amount invested at 6%
.06(x+300) =income from 6% investment 300 more than at8%
.08x=income at 8%
.08x+.06(x+300)=242 multiply
.08x +.06x +18=242 collect liketerms
.14x=224 divide by .14
x=1600 at 8%
x+300 =1900 at 6%

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?