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someone help, investment problems!! mee ha invested $2500, part at 8% per annum and the rest at 12% per annum. in 1 year, the two parts earned equal amounts of interest. how much did she invest at each rate? please show the method as well
Ok we can call one of the invested amounts x and the other 2500-x From this we can say that x*0.08=interest and that (2500-x)*0.12=interest As these two values are the same this can be written as: x*0.08=(2500-x)*0.12 0.08x=300-0.12x 0.2x=300 x=1500 Therefore they invested $1500 at 8% per annum and $1000 at 12% per annum
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