Problema Solution
Pauline invested $10,000 at two different rates, 4% and 6%. If her total interest income was $470, how much did she invest at each rate?
Answer provided by our tutors
Let
x = the money invested at 4%
y = the money invested at 6%
x + y = 10000
0.04x + 0.06y = 470
........
click here to see the system of equations solved for x and y
........
x = $6,500
y = $3,500
Pauline invested $6,500 at 4% and $3,500 at 6%.