Rental income A woman has $500,000 invested in two rental properties. One yields an annual return of 10% on her investment, and the other returns 12% per year on her investment. Her total annual return from the two investments is $53,000. Let x represent the amount of the 10% investment and y represent the amount of the 12% investment. (a) Write an equation that states that the sum of the investments is 500,000 dollars. (b) What is the annual return on the 10% investment? (c) What is the annual return on the 12% investment?
Rental income A woman has $500,000 invested in two rental properties. One yields an annual return of 10% on her investment, and the other returns 12% per year on her investment. Her total annual return from the two investments is $53,000. Let x represent the amount of the 10% investment and y represent the amount of the 12% investment.
(a) Write an equation that states that the sum of the investments is 500,000 dollars.
(b) What is the annual return on the 10% investment?
(c) What is the annual return on the 12% investment?
(d) Write an equation that states that the sum of the annual returns is 53,000 dollars.
(e) Solve these two equations simultaneously to find how much is invested in each property.
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