SOLUTION: An investor receives $600 annually from two investments. He has $500 more invested at 8% than at 6%. What is the amount invested at each rate?

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Question 101233: An investor receives $600 annually from two investments. He has $500 more invested at 8% than at 6%. What is the amount invested at each rate?
Answer by stanbon(48533) About Me  (Show Source):
You can put this solution on YOUR website!
An investor receives $600 annually from two investments. He has $500 more invested at 8% than at 6%. What is the amount invested at each rate?
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Let amt invested at 6% be "x" dollars
Amt invested at 8% is "x+500"
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EQUATION:
x + x+500 = 600
2x = 100
x = $50 (amt invested at 6%)
x+500 = $550 (amt invested at 8%)
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Cheers,
Stan H.