SOLUTION: An executive invests $25,000, some at 5% and some at 4% annual interest. If he receives an annual return of $1,150, how much is invested at each rate?
at 5% interest
at 4% in
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Question 880747: An executive invests $25,000, some at 5% and some at 4% annual interest. If he receives an annual return of $1,150, how much is invested at each rate?
at 5% interest
at 4% interest
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Part I 5.00% per annum ---x
Part II 4.00% per annum ---y
Total investment
x + 1 y= 25000 -------------1
Interest on both investments
5.00% x + 4.00% y= 1150
Multiply by 100
5 x + 4 y= 115000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -125000.00
Add this to (2)
0 x -1 y= -10000
divide by -1
y = 10000
Part I 5.00% $ 15000
Part II 4.00% $ 10000
CHECK
15000 --------- 5.00% ------- 750.00
10000 ------------- 4.00% ------- 400.00
Total -------------------- 1150.00
m.ananth@hotmail.ca
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