Thread: 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.

m = amount in mortgage @ 6%

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

Solve for m

How much do you want to bet rcs will be back asking someone to solve that equation for him?

Originally Posted by HallsofIvy

How much do you want to bet rcs will be back asking someone to solve that equation for him?

Maybe he'll PM you !