Two investments were made by Adam, totalling $22,500. Part of it was invested at 6% per annum
Question:
Two investments were made by Adam, totalling $22,500. Part of it was invested at 6% per annum and the remainder at 5% per annum. The total interest received after one year was $1295. Find the amount invested at each rate.
AppendixLO1
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
Question Posted: