Problema Solution
A company has $86,500 invested in stocks and earns $6751 in interest annually. Part of the money is invested at 7.4% and the remainder at 8.1%, both simple interest. How much money is invested at each rate?
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x = the money invested at 7.4%
y = the money invested at 8.1%
x + y = 86500
0.074x + 0.081y = 6751
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click here to see the system of equations soled for x and y
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x = $36,500
y = $50,000
$36,500 are invested at 7.4% and $50,000 at %8.1.