Problema Solution
$9500 is invested, part of it at 11% and part of it at 6%. For a certain year, the total yield is $865. How much was invested at each rate?
Answer provided by our tutors
let
x = the amount invested at 11%
y = the amount invested at 6%
$9500 is the total money invested thus
x + y = 9500
for a certain year, the total yield is $865
0.11x + 0.06y = 865
by solving the system of equations
x + y = 9500
0.11x + 0.06y = 865
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x = $5,900
y = $3,600
$5,900 was invested at 11% and $3,600 was invested at 6%.