SOLUTION: Jackie invests $25,000, part as a 5.5% annual interest and the balance at 8.3% annual interest. How much is invested at each rate if Jackie receives a 1-year interest payment of $1

SOLUTION: Jackie invests $25,000, part as a 5.5% annual interest and the balance at 8.3% annual interest. How much is invested at each rate if Jackie receives a 1-year interest payment of $1

Algebra.Com

Question 504656: Jackie invests $25,000, part as a 5.5% annual interest and the balance at 8.3% annual interest. How much is invested at each rate if Jackie receives a 1-year interest payment of $1571?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
.055m+.083(25000-m)=1571
55m+83(25000-m)=1571000
55m+2075000-83m=1571000
2075000-1571000=83m-55m=28m
28m=504000
m=18000
Jackie invested $18000 at 5.5% interest and $7000 at 8.3% interest..
RELATED QUESTIONS
A part of a sum of money is invested at 5% and the other part which is three times as... (answered by ikleyn,MathTherapy)

A student invests part of $10,000 at 6% annual interest and the rest at 5%. If the... (answered by checkley77)

the total interest earned after one year Php 100 000 is invested, part of 6% annual... (answered by greenestamps)

Brandon invested $20 000. He invested part of the money in a term deposit paying 4%... (answered by ikleyn,greenestamps)

A woman invests $33,000, part at 8% and the rest at 9 1/2% annual interest. If the 9 1/2% (answered by Boreal)

Tom invests $14000, part at 6% annual interest and part at 8% annual interest. How much... (answered by ikleyn)

A woman invested part of $28,500 at 5% interest and the rest at 7%. If her annual... (answered by jorel1380)

tom invested $14,000, part at 6% annual interest and part at 8% annual interest. How much (answered by macston)

Joe invests $6000, part at 5% interest and the rest at 7%. If his annual interest income... (answered by mananth)