Problema Solution
$9500 is invested part of it at 11% and part of it at 6%. for a certain year the total yield is $865.00. how much is invested at each rate
Answer provided by our tutors
let
x = the money invested at 10%
y = the money invested at 6%
$9500 is invested
x + y = 9500
for a certain year the total yield is $865.00
0.10x + 0.06y = 865.00
by solving the system of equations
x + y = 9500
0.10x + 0.06y = 865.00
we find
x = $7,375
y = $2,125
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$7,375 is invested at a rate of 11% and $2,125 at a rate of 6%.