Problema Solution
$5900 is invested, part of it at 10% and part of it at 6%. for a certain year, the total yeild $478.00. how much was invested at each rate?
Answer provided by our tutors
let
x = the money invested at 10%
y = the money invested at 6%
the total money invested is $5900
x + y = 5900
the yield from x + the yield from y = the total yield is $478
0.1*x + 0.06*y = 478
by solving the system of equations
x + y = 5900
0.1*x + 0.06*y = 478
we find
x = $3100
y = $2800
$3100 we invested at 10% rate and $2800 were invested at 6% rate.