SOLUTION: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $585?

Question 401436: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $585?
Answer by sofiyac(983) (Show Source): You can put this solution on YOUR website!
I=prt but you have two different amounts and percents so
I=p1r1t1+p2r2t2 both t's are 1, since it's just 1 year
585=3000*0.06*1+x*0.09*1
585=180+0.09x subtract 180 from each side
585-180=0.09x
405=0.09x divide each side by 0.09
4500=x

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