Problem

In Exercise, set up an appropriate equation and solve. Data are accurate to two sig. digit...

In Exercise, set up an appropriate equation and solve. Data are accurate to two sig. digits unless greater accuracy is given.

A person won a state lottery prize of $20,000, from which 25% was deducted for taxes. The remainder was invested, partly for a 40% gain, and the rest for a 10% loss. How much was each investment if there was a $2000 net investment gain?

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Solutions For Problems in Chapter 1.12