A total of $10,000 was invested it in two business ventures, A and B. At the end of the first year, A and B yielded returns of 6% and 53 %, respectively, on the original investments. 4 How was the original amount allocated if the total amount earned was $588.75?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 2E
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Example 5. Investment.
Simple Interest
I=Prt
A total of $10,000 was invested it in two business ventures, A and B. At the end of the first year,
A and B yielded returns of 6% and 53 %, respectively, on the original investments.
4
How was the original amount allocated if the total amount earned was $588.75?
Solu
Transcribed Image Text:Example 5. Investment. Simple Interest I=Prt A total of $10,000 was invested it in two business ventures, A and B. At the end of the first year, A and B yielded returns of 6% and 53 %, respectively, on the original investments. 4 How was the original amount allocated if the total amount earned was $588.75? Solu
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