SOLUTION: Eleanor invests $18,000 in two funds paying 9 1/4% and 10 1/2% simple interest. How much is invested at each rate if the total yearly interest is $1827.50?

Question 165655: Eleanor invests $18,000 in two funds paying 9 1/4% and 10 1/2% simple interest. How much is invested at each rate if the total yearly interest is $1827.50?
Found 2 solutions by jojo14344, stanbon:
Answer by jojo14344(1513) (Show Source): You can put this solution on YOUR website!

Let =amount invt. @ 10-1/2%
So, = amount invt. @ 9-1/4%
Showing into eqn. with simple interest:

-----------------> amount invt. @ 10-1/2%
--------> amount invt. @ 9-1/4%
It make sense to invest more at higher interest I guess.
Check,

Thank you,
Jojo
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Eleanor invests $18,000 in two funds paying 9 1/4% and 10 1/2% simple interest. How much is invested at each rate if the total yearly interest is $1827.50?
------------------
EQUATION:
interest + interest = interest
=================================
0.0925x + 0.105(18000-x) = 1827.50
Multiply thru by 10000 to get:
925x + 1050(18000-x) = 18275000
-125x = 18275000 - 1050*18000
-125x = -625000
x = $5000 (Amt. invested at 9 1/4 %
18000-x = $13000 (Amt. invested at 10 1/2 %
=============================================
Cheers,
Stan H.
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