document.write( "Question 1083955: Sam invested $2100, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $28 more than twice the income from the 6% investment. How much did he invest at each rate? \n" ); document.write( "

Algebra.Com's Answer #698055 by MathTherapy(10552) $\"\"$ $\"About$

You can put this solution on YOUR website!

\n" ); document.write( "Sam invested $2100, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $28 more than twice the income from the 6% investment. How much did he invest at each rate?
\n" ); document.write( "

Let amount invested in the 8% fund be E
\n" );
document.write( "Then amount invested in the 6% fund = 2,100 - E
\n" );
document.write( "We then get the following INTEREST equation: .08E = 2(.06)(2,100 - E) + 28
\n" );
document.write( "Solve this for E, the amount invested in the 8% fund. You should get $1,400.
\n" );
document.write( "Subtract value of E from $2,100 to get amount invested in 6% fund. \n" );
document.write( "

\n" );