Part of $9,000 Was Invested by an Investment Club at 10

question 246

Short Answer

Part of $9,000 was invested by an investment club at 10% interest and the rest at 12%. The annual income from these investments is $1,060. How much was invested at 10%?
$__________ How much was invested at 12%?
$__________

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Definitions:

Technological Advance

Progress in technology and innovation that leads to new methods, products, or improvements in production, efficiency, and development.

Preferred Mix

The optimal combination of goods and services chosen by an individual or firm based on preferences, income, and prices.

Productive Efficiency

Achieved when goods or services are produced at the lowest possible cost and utilizing resources in the best way possible.

Average Total Cost

The total cost of production divided by the quantity of output produced, showing the average cost per unit.