bruce-invests-some-money-in-fix-deposit-at-7-and-4-times-as-much-money-lends-to-

Question

Bruce invests some money in fix deposit at 7% and 4 times as much money lends to a friend at 18% interest. If the total annual interest income is $316, find out the amount invested at each rate.

Accepted Answer

Amount invested in fix deposit at 7% = $400, Amount lent to a friend at 18% = $1600

Answer

Amount invested in fix deposit at 7% = $1600, Amount lent to a friend at 18% = $400

Answer

Amount invested in fix deposit at 7% = $300, Amount lent to a friend at 18% = $1200

Answer

Amount invested in fix deposit at 7% = $1200, Amount lent to a friend at 18% = $300

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Bruce invests some money in fix deposit at 7% and 4 times as much money lends to a friend at 18% interest. If the total annual interest income is $316, find out the amount invested at each rate.