SOLUTION: Jeff won $5,000 in a contest. He invested part of the money at 10% per year and the remainder at 6% per year. If Jeff’s income from the two investments was $420 in one year, how mu
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Question 1028362: Jeff won $5,000 in a contest. He invested part of the money at 10% per year and the remainder at 6% per year. If Jeff’s income from the two investments was $420 in one year, how much did he invest at each rate?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
A person has 
currency units invested in 2 accounts.
One account earns 
percent interest, and the other account earns 
percent interest.
The two accounts earn a total of 
interest in one year.
How much is invested in each account?
Let 
be the amount invested at percent. Then the amount invested at percent is 
, and:
\ =\ I)
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
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