Problema Solution
$9500 is invested, part of it at 10% and part of it at 7%. For a certain year, the total yield is $842. How much was invested at each rate?
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$9500 is invested, part of it at 10% and part of it at 7%. For a certain year, the total yield is $842. How much was invested at each rate?
Solution:
10%: x
7%: 9500-x
So
10%x+7%(9500-x)=842
x=5900
So $5900 at 10% and $3600 at 7%