Grace Cathey
New member
- Joined
- Dec 18, 2018
- Messages
- 5
Tom has a sum of money invested at 9% and another sum that is 1/3 of the first sum invested at 5 3/4%. The yearly income from the 9% investment exceeds the interest of the 5 3/4% investment by $425. How much is invested at each rate?
I can get all of my information organized like this:
(I left out time since it is a year and won't make a difference.
Now what do I do? I know that I am probably missing something SUPER simple...
I can get all of my information organized like this:
(I left out time since it is a year and won't make a difference.
Principle | Rate | Interest |
x | .09 | x/3(.0575)+ $425 |
x/3 | .0575 | x/3(.0575) |
Now what do I do? I know that I am probably missing something SUPER simple...