SOLUTION: Two investments totaling $32,000 produce an annual income of $1,070. One investment yields 3% a year, while the other yields 5% per year. How much is invested at each rate?

SOLUTION: Two investments totaling $32,000 produce an annual income of $1,070. One investment yields 3% a year, while the other yields 5% per year. How much is invested at each rate?

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Question 626260: Two investments totaling $32,000 produce an annual income of $1,070. One investment yields 3% a year, while the other yields 5% per year. How much is invested at each rate?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
(.05x)+.03(32000-x)=1070
.05x+960-.03x=1070
.02x=1070-960
.02x=110
x=110/.02
x=5500 amount invested @ 5%.
32000-5500=26500 amount invested @ 3%.
Proof:
.05*5500+.03*26500=1070
275+785=1070
1070=1070

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