SOLUTION: Alice Gleeson invested a portion of $32,000.00 at 9% interest and the balance at 11% interest, how much did she invest at each rate if her total income from both investments was $3

Question 108049: Alice Gleeson invested a portion of $32,000.00 at 9% interest and the balance at 11% interest, how much did she invest at each rate if her total income from both investments was $3,200.00?
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.11X+.09(32,000-X)=3,200
11X+2880-.09X=3,200
.02X=3,200-2,880
.02X=320
X=320/.02
X=16,000 AMOUNT INVESTED @ 11%
32,000-16,000=16,000 AMOUNT INVESTED @ 9%
PROOF
.11*16,000+.09*16,000=3,200
1,760+1,440=3,200
3,200=3,200
RELATED QUESTIONS
alice invested a portion of $32,000 at 9% interest and the balance at 11% interest. How... (answered by checkley77)

Hello, I'm having trouble with this word problem: Wendell invested a portion of (answered by ptaylor)

John Craig invested a portion of $15,000 at 10% annual interest and the balance at 6%... (answered by tutorcecilia)

John invested a portion of 15,000 at 10 percent annual interest rate and the balance at 6 (answered by richwmiller)

Yolanda invested a portion of $14,000 at 7.25% interest and the balance at 9.5% interest. (answered by tutorcecilia)

Joe invested a portion of $6000 at 4.5% interest and the balance at 6% interest. How much (answered by checkley77)

A woman invested part of $24,000 at 10% interest and the rest at 11%. If her annual... (answered by sofiyac,richwmiller)

Tracy invested $38000 for one year, part at 11% interest and part at 9% interest. If she... (answered by solver91311)