Problema Solution
6300 is invested, part of it at 10% and part of it at 66%. For a certain year, the total yield is $502.00 . How much was invested at each rate?
How much was invested at 6%?
How much was invested at 10%?
Answer provided by our tutors
Let
x = the money invested at 6%, x>0
y = the money invested at 10%, y>0
$6,300 is invested:
x + y = 6300
0.06x + 0.10y = 502
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x = $3,200
y = $3,100
There were $3,200 invested at 6% and $3,100 invested at 10%.