SOLUTION: $9500 is invested, part of it at 11% and part of it at 7%. For a certain year, the total yield is $901.00. How much was invested at each rate?

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Question 859816: $9500 is invested, part of it at 11% and part of it at 7%. For a certain year, the total yield is $901.00. How much was invested at each rate?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
Let x represent amount at 11%
.11x + .07(9500-x) = 901
x = (901 - 665)/.04
x = 236/.04 = $5900 at 11% and $3600 at 7%

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