Problema Solution
$5400 is invested; part of it at 12% and part of it is 9%. For a certain year, the total yield is $576.00. How much was invested at each rate?
How much was invested at 12%?
How much was invested at 9%?
Answer provided by our tutors
Let
x = the money invested at 12%, x>0
y = the money invested at 9%, y>0
$5400 is invested:
x + y = 5400
0.12x + 0.09y = 576
........
........
x = $3,000
y = $2,400
There were $3,000 invested at 12% and $2,400 invested at 9%.