# SOLUTION: mr parsons invested a sum of money at 6% and a 2nd sum, \$500 more than the first, at 8%. if the total annual income was \$180, how much did he invest at each rate?

Algebra ->  Algebra  -> Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: mr parsons invested a sum of money at 6% and a 2nd sum, \$500 more than the first, at 8%. if the total annual income was \$180, how much did he invest at each rate?      Log On

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 Question 429941: mr parsons invested a sum of money at 6% and a 2nd sum, \$500 more than the first, at 8%. if the total annual income was \$180, how much did he invest at each rate?Answer by ewatrrr(10682)   (Show Source): You can put this solution on YOUR website! ``` Hi \$500 more than the first, at 8% Let x and (x+\$500) represent the amount invested at 6% and 8% respectively Question states*** .06x + .08(x+\$500) = \$180 Solving for x .14x = 140 x = \$1000,amount invested at 6%. \$1500 at 8% CHECKING our Answer*** .06*\$1000 + .08*\$1500 = \$60 + \$120 = \$180 ```