SOLUTION: part of $5,200 is invested at an annual rate of 7 1/2% and remainder is invested at an annual rate 5%. If the total number annual income from these two investments is $350, find th
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-> SOLUTION: part of $5,200 is invested at an annual rate of 7 1/2% and remainder is invested at an annual rate 5%. If the total number annual income from these two investments is $350, find th
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Question 1178437: part of $5,200 is invested at an annual rate of 7 1/2% and remainder is invested at an annual rate 5%. If the total number annual income from these two investments is $350, find the number of dollars invested at the 5% rate. Answer by ikleyn(52781) (Show Source):
You can put this solution on YOUR website! .
part of $5,200 is invested at an annual rate of 7 1/2% and remainder is invested at an annual rate 5%.
If the total number annual income from these two investments is $350, find the number of dollars
invested at the 5% rate.
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Let x be the amount (in dollars) invested at 5% rate.
Then the part invested at 7.5% is (5200-x) follars.
Then you have this total interest equation
0.05x + 0.075*(5200-x) = 350 dollars.
From the equation
x = = 1600.
ANSWER. The amount invested at 5% was 1600 dollars.
CHECK. The total interest 0.005*1600 + 0.075*(5200-1600) = 3500 dollars. ! Correct !
Solved.
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It is a standard and typical problem on investments.
You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).
