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Thread: investment problem.

  1. #1
    rcs
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    investment problem.

    Problem : Mr James received and inheritance $ 8,500,000. A part of this money he invested in a mortgage paying 6% interest. The rest of it he invested in bonds paying 5% interest. The annual income form the 2nd investment was twice as much as from the first. How much was invested in the mortgage?

    I need your help on this problem guys.. im more weak in money problems and commission sir...


    THANK YOU.
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  2. #2
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    Re: investment problem.

    m = amount in mortgage @ 6%

    .05(8500000 - m) = 2(.06m)

    Solve for m
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    Re: investment problem.

    How much do you want to bet rcs will be back asking someone to solve that equation for him?
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  4. #4
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    Re: investment problem.

    Quote Originally Posted by HallsofIvy View Post
    How much do you want to bet rcs will be back asking someone to solve that equation for him?
    Maybe he'll PM you !
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