SOLUTION: John has N$6000 invest.He invests part of it at 5% and the rest at 8%.How much should be invested at each rate to yield 6% on the total amount?

Question 955995: John has N$6000 invest.He invests part of it at 5% and the rest at 8%.How much should be invested at each rate to yield 6% on the total amount?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
John has N$6000 invest.He invests part of it at 5% and the rest at 8%.How much should be invested at each rate to yield 6% on the total amount?
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Quantity Eq:: f + e = 6000
Interest Eq:: 5f + 8e = 6*6000
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Modify for elimination:
5f + 5e = 5*6000
5f + 8e = 6*6000
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Subtract and solve for "e":
3e = 6000
e = $2000 (amt. invested at 8%)
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f = 6000-e = $4000 (amt. invested at 5%)
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Cheers,
Stan H.
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