A man invested $20,000 in the bank. A part of it was investedat 5% and the rest at 10%. The total annual income from the twoinvestments is $1,525.00. How much was invested at eachof these rates?

Introduction :Given , amount invested in the bank = $20,000investment rates are given as 5% and…

Answered: A man invested $20,000 in the bank.…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter3: Solving Equation And Problems

Section3.7: Costs, Income, And Value Problems

Problem 9P

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A man invested $20,000 in the bank. Apart ofit was invested at 5% and the rest at 10%. The total annual income from the two investments is $1,525.00. How much was invested at each of these rates?