SOLUTION: A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate?
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Question 668905: A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate? Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! Establish variables
x = $ at 4%
y = $ at 3%
...
Given
x+y=5200
.04x + .03y = 194
...
.04(5200-y) + .03y = 194
208 - .04y + .03y = 194
208 - .01y = 194
208 - 194 = .01y
14 = .01y at 3%
...
x = 5200-1400 at 4%
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