SOLUTION: Bob has some money invested at 5%, and $5,000 more than this amount invested at 9%. His annual interest income is $1430. What is the amount invested at each rate.

Question 269447: Bob has some money invested at 5%, and $5,000 more than this amount invested at 9%. His annual interest income is $1430. What is the amount invested at each rate.
Answer by drk(1908) (Show Source): You can put this solution on YOUR website!
Let Bob have x dollars to invest. we want the equation
I = prt + prt
for two investments.
From above we get
(i)
step 1 - multiply and simplify the right side to get
(ii)
and then
(iii)
step 2 - subtract 450 to get
(iv)
step 3 - divide by .14 to get
(v)
and then
-----
7000 @ 5%
12000 @ 9%
RELATED QUESTIONS
Nancy has some money invested at 5% and $5000 more than this amount invested at 9%.... (answered by checkley79)

Lynn invested some money at 8%, and then invested $3000 more than twice this amount at... (answered by jojo14344)

Roberto invested some money at 7%, and then invested $2000 more than twice this amount at (answered by checkley77)

James has a certain amount of money invested at 5% annual interest and $500 more than... (answered by Theo,ikleyn)

Alexis invested some money at 10% interest calculated each year and invested $2 000 more... (answered by 428225)

Ron invested some money at 5% and $500 more at 7%. His total annual interest income was... (answered by jorel1380)

tom invested some money at 5% and $300 more at 7%. His total annual interest income was... (answered by swincher4391)

Tim Bell invests some money at 5% and $1500 more than this amount at 8%. The total... (answered by ikleyn)

The total annual interest for two investments are $81. Some amount of this money is... (answered by TimothyLamb)