SOLUTION: How should a $45,000 investment be split so that the total annual earnings are $1,980, if one portion is invested at 3 percent annual interest amd the rest at 6.5 percent annual in

Question 1080259: How should a $45,000 investment be split so that the total annual earnings are $1,980, if one portion is invested at 3 percent annual interest amd the rest at 6.5 percent annual interest?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
( simple interest )
Let = amount invested @ 3%
= amount invested @ 6.5%
Let = earnings from the 3% investment
= earnings from the 6.5% investment
yr
------------------------------------------------
(1)
(2)
-------------------------------------------
(1)
and
(2)
(2)
Plug (1) into (2)
(2)
(2)
(2)
and

---------------------------------
$27,000 @ 3%
$18,000 @ 6.5%
------------------
check:
(1)
(1)
(1)
and
(2)
(2)
(2)
(2)
OK

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