SOLUTION: An investment of $950 at one rate and $1200 at and higher rate together earn an annual income of $88.50. If the investments differ by 2%, find the rates for each investment.

Question 1068648: An investment of $950 at one rate and $1200 at and higher rate together earn an annual income of $88.50. If the investments differ by 2%, find the rates for each investment.
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
A and B are the two rates.

Substituting,

Now solve for B, then use either equation to solve for A.

RELATED QUESTIONS
two investment totaling $44,500 produce an annual income of $950. one investment yields... (answered by richwmiller,solver91311)

An investment club invest part of $8000 at 10% annual interest and the rest at 12%. If... (answered by ewatrrr)

Two investments earn an annual income of $575. One investment earns an annual simple... (answered by srinivas123)

Two investments earn an annual income of $575. One investment earns an annual simple... (answered by Mathtut)

Two investments earn an annual income of $478.40. One investment earns an annual simple... (answered by mananth)

Two investments earn an annual income of $221. One investment earns an annual simple... (answered by checkley79)

Leroy invested $400 at a certain interest rate and $1200 at a rate 3% higher. He earned... (answered by Theo)

A student invested some money at an annual rate of 5%. If the annual income from the... (answered by rfer,jim_thompson5910)

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