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Help me Please

 

Mr. Lindle invested his 210,000 retirement funds in two bonds, one yielding 8% and one yielding 10%.

If his total annual income from both investments is 18,300, how much did he invest at each rate?

8%=

10%=

ManuelBautista2019  Sep 18, 2017
edited by ManuelBautista2019  Sep 18, 2017
 #1
avatar+17746 
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The income from an investment can be calculated using this formula:  Income  =  (Amount Invested) x (Percentage Rate)

 

Let  x  represent the amount of Investment #1  (8%)

Then  210 000 - x  represents the amount of Investment #2  (10%)

 

(Income from Investment #1)  +  (Income from Investment #2)  =  Total Income

 

(Amt Invested x Percentage)1  +  (Amt Invested x Percentage)2  =  Total Income

 

[ x · 0.08]  +  [ (210 000 - x) · 0.10 ]  =  18 300

 

0.08x  +  21 000 - 0.10x  =  18 300

               21 000 - 0.02x  =  18 300

                           - 0.02x  =  - 2 700

                                    x  =  135 000                     <--- amount invested at 8%

 

     210 000  -  135 000  =  75 000                        <--- amount invested at 10%

geno3141  Sep 18, 2017

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