SOLUTION:
6300 is invested, part of it at 12% and part of it at 9%. for a certain year the total yield is 600.00. how much was invested at each rate?
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Question 702402:
6300 is invested, part of it at 12% and part of it at 9%. for a certain year the total yield is 600.00. how much was invested at each rate?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
ASSUMING THE RATES ARE ANNUALLY THEN:
.12X+.09(6300-X)=600
.12X+567-.09X=600
.03X=600-567
.03X=33
X=3/.03
X=$1100 AMOUNT INVESTED @ 12%.
6300-1100=$5200 AMOUNT INVESTED @ 9%.
PROOF:
.12*1100+.09*5200=800
132+468=600
600=600
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