SOLUTION: Tim Bell invests some money at 5% and $1500 more than this amount at 8%. The total annual income from the investments is $536. Find the amount invested at 5%.

Question 1184522: Tim Bell invests some money at 5% and $1500 more than this amount at 8%. The total annual income from the investments is $536. Find the amount invested at 5%.
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
.
Tim Bell invests some money at 5% and $1500 more than this amount at 8%.
The total annual income from the investments is $536. Find the amount invested at 5%.
~~~~~~~~~~~~~~~~~

    0.05x + 0.08*(x+1500) = 536

    0.05x + 0.08x + 0.08*1500 = 536

    0.05x + 0.08x = 536 - 0.08*1500

         0.13x    = 416

             x    =  = 3200.


ANSWER.  The amount invested at 5% was $3200.


CHECK.   0.05*3200 + 0.08*(3200+1500) = 536  dollars, total annual interest.    ! Correct !

Solved.

----------------

It is a standard and typical problem on investments.

If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson
- Using systems of equations to solve problems on investment
in this site.

You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).

Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

RELATED QUESTIONS
An engineer invests some money at 5% and $3000 more than twice as much at 8%. The total... (answered by greenestamps)

A person invests some money at 14%, with $8,000 more than this amount invested at 12%.... (answered by Boreal)

A person invests some money at 14%, with $8,000 more than this amount invested at 12%.... (answered by fractalier)

A doctor invests a portion of money at 5% and $2500 more than twice as much as 9%. The... (answered by ReadingBoosters)

An actor invests some money at 8%, and $34000 more than four times the amount at 9%. The... (answered by ewatrrr)

Lynn invested some money at 8%, and then invested $3000 more than twice this amount at... (answered by jojo14344)

Roberto invested some money at 8%. and then invested $5000 more than twice this amount at (answered by robertb)

Roberto invested some money at 8%, and then invested $2000 more than twice this amount at (answered by dragonwalker)

Roberto invested some money at 8%, and then invested $2000 more than twice this amount at (answered by scott8148)