A person invested two amounts in a bank for a full year. From the first, the rate is 6% annually, and from the second 8% annually. His annual income from the two ammounts was $ 300. If he invested from the first amount at a rate of 8% and invested from the second at a rate of 6%, his income would decrease by $ 40. How much is the two invested ammounts ?
A person invested two amounts in a bank for a full year. From the first, the rate is 6% annually, and from the second 8% annually. His annual income from the two ammounts was $ 300. If he invested from the first amount at a rate of 8% and invested from the second at a rate of 6%, his income would decrease by $ 40. How much is the two invested ammounts ?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A person invested two amounts in a bank for a full year.
From the first, the rate is 6% annually, and from the second 8% annually.
His annual income from the two ammounts was $ 300.
If he invested from the first amount at a rate of 8% and invested from the second at a rate of 6%, his income would decrease by $ 40.
How much is the two invested ammounts ?
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