Question

Two investments totaling $18,500 produce an annual income of $1235. One investment yields 7% per year, while the other yields 3% per year. How much is invested at each rate?

Answer 1

7 - 3 =4

3% is applied on 18500

= 555

Now 1235 - 555 = 680

4%of x =680

X= 17000

Means 7% plan has 17000

3 % plan has 1500