SOLUTION: A student invests part of $10,000 at 6% annual interest and the rest at 5%. If the annual income from these investments is $560, how much was invested at each rate?

SOLUTION: A student invests part of $10,000 at 6% annual interest and the rest at 5%. If the annual income from these investments is $560, how much was invested at each rate?

Algebra.Com

Question 268473: A student invests part of $10,000 at 6% annual interest and the rest at 5%. If the annual income from these investments is $560, how much was invested at each rate?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.06x+.05(10,000-x)=560
.06x+500-.05x=560
.01x=560-500
.01x=60
x=60/.01
x=6,000 amount invested @ 6%
10,000-6,000=4,000 amount invested @ 5%
Proof:
.06*6,000+.05*4,000=560
360+200=560
560=560

RELATED QUESTIONS
Part of a $8, 000 inheritance was invested at 10% interest and the rest was in- vested at (answered by stanbon)

A retired couple invested part of $11,400 at 6% interest and the rest at 7.5%. If their... (answered by stanbon)

rellie invests 12,000 pesos. A part of it earns 10% interrest annually ans the rest earns (answered by tutorcecilia)

A retired couple invested part of $11,800 at 6% interest and the rest at 7.5%. If their... (answered by ankor@dixie-net.com)

shiela invests part of part of$6000 at 6% interest and the other part at 11% interest.... (answered by rfer)

Part of $6,000 was invested at 10% interest and the rest at 12%. If the annual income... (answered by greenestamps)

Part of $8,000 was invested by an investment club at 10% interest and the rest at 12%. If (answered by addingup)

Part of $8,000 was invested at 10% interest and the rest at 12%. If the annual income... (answered by richwmiller)

Nestor invested 5000 pesos, part of it at 3% and the rest at 5% simple interest. If the... (answered by mananth)