SOLUTION: The financial board of a corporation invested $25,000 overseas, part at 4% and part at 7% annual interest. Find the amount invested at each rate if the first year combined income f

Question 213805This question is from textbook Elementary Algebra
: The financial board of a corporation invested $25,000 overseas, part at 4% and part at 7% annual interest. Find the amount invested at each rate if the first year combined income from the two investments was $1,300. This question is from textbook Elementary Algebra

Answer by RAY100(1637) (Show Source): You can put this solution on YOUR website!
Let x = amount @ 4%,,,,and y= amount @ 7%
.
x + y = $ 25,000,,,,,or y= 25,000 -x
.
.04*x +.07*y = 1300
.
.04(x) + .07(25,000-x) = 1300
.
.04x -.07x + 1750 = 1300
.
-.03x = -450
.
x= $15,000
.
y= 25,000- 15,000 = $ 10,000
.
.
check,,,, .04*15000 +.07*10,000 = 600 + 700 = $ 1300,,,,ok
.

RELATED QUESTIONS
The financial board of a corporation invested $30,000 overseas, part at 7% and part at 8% (answered by richwmiller)

corporate investments The financial board of a corporation invested $25000 overseas, part (answered by Theo,mananth)

I have no idea where to start on this word problem: COPORATE INVESTMENTS: The... (answered by ewatrrr)

Larry mitchel invested part of his $13,000 advance at 7% annual simple interest and the... (answered by ikleyn,greenestamps)

the total interest earned after one year Php 100 000 is invested, part of 6% annual... (answered by greenestamps)

A part of P10,000 is invested at 4% and the remainder at 3. ½%. The annual income from (answered by Theo)

A part of P10,000 is invested at 4% and the remainder at 3. ½%. The annual income from (answered by Boreal,greenestamps)

Larry Mitchell invested part of his $30,000 advance at 5% annual simple interest and the... (answered by greenestamps)

Larry Mitchell invested part of his $27,000 advance at 7% annual simple interest and the... (answered by solver91311)