Problema Solution
Martha received an inheritance of $70,000 she invested part of the money at 12% interest and the remainder at 8% interest . her total annual interest was $8,000.how much did she invested at each amount?
Answer provided by our tutors
let
x = the money she invested at 12% interest
y = the money she invested at 8% interest
the total money invested is $70,000
x + y = 70000
her total annual interest was $8,000
0.12x + 0.08y = 8000
by solving the system of equations
x + y = 70000
0.12x + 0.08y = 8000
we find
x = $60,000
y = $10,000
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