Karim wants to invest $100000 in two investments at 8% and 10%. How much should he invest in each if hewants to obtain an annual income from both investments of $9000?

The formula is I = Prt, Where I = interest earned, P = principal, r = rate of interest, t = time.

Answered: Karim wants to invest $100000 in two…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Karim wants to invest $100000 in two investments at 8% and 10%. How much should he invest in each if he wants to obtain an annual income from both investments of $9000?