SOLUTION: Hiriko invested $11,700,part at 5% interest and the balance at 7% interest.If her annaul earnings from both investments is $733,how much is invested at each rate?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Hiriko invested $11,700,part at 5% interest and the balance at 7% interest.If her annaul earnings from both investments is $733,how much is invested at each rate?      Log On


   

Question 64557This question is from textbook Algebra 1
: Hiriko invested $11,700,part at 5% interest and the balance at 7% interest.If her annaul earnings from both investments is $733,how much is invested at each rate? This question is from textbook Algebra 1

Found 2 solutions by stanbon, checkley71:
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Hiriko invested $11,700,part at 5% interest and the balance at 7% interest.If her annaul earnings from both investments is $733,how much is invested at each rate?
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Let amount invested at 5% be "x"; interest on this is 0.05x dollars
Amount invested at 7% is "11700-x"; interest on this is 0.07(11700-x)
=819-0.07x dollars
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EQUATION:
interest + interest = 733 dollars
0.05x+819-0.07x=733
-0.02x=-86
x=$4300 (amount invested at 5%)
11700-4300=$7400 (amount invested at 7%)
Cheers,
Stan H.

Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
.07x+.05(11700-x)=733
.07x+585-.05x=733
.02x=733-585
.02x=148
x=148/.02
x=7400 amount invested @ 7%.
then the remainder is (11700-7400=4300) or 4300 is invested @ 5%
proof
.07*7400+.05*4300=733
518+215=733
733=733