SOLUTION: word problem. please use a table and the 5 step method to solve this problem. thank you. marcus invested a sum of money at 5%. he invested an amount of money $250 more than the

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Question 389727: word problem. please use a table and the 5 step method to solve this problem. thank you.
marcus invested a sum of money at 5%. he invested an amount of money $250 more than the first amount at 6%. if the annual income from both investments totaled $59, how much did he invest at each rate.
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!


Hi,         

Let x represent the first amount invested at 5%

Therefore, (x+ $250) would be the amount invested at 6%

question States***

 .05x + .06(x + $250) = $59

solving for x

 .05x + .06x + .06*$250 = %59

     .11x = $59 - .06*$250

     .11x = $59 - $15

     .11x = $44

        x = $44/.11 = $400, amount invested at 5%

the amount invested at 6% would be $650   ($400+ $250)



IV. CHECKING Our Answer***

 .05*$400 + .06*$650 = $20 + $39 = $59 

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