SOLUTION: Two investments totaling $16,000 produce an annual income of $1,140. One investment yields 6% a year, while the other yields 8% a year. How much is invested at each rate?

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Question 1018180: Two investments totaling $16,000 produce an annual income of $1,140. One investment yields 6% a year, while the other yields 8% a year. How much is invested at each rate?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Two investments totaling $16,000 produce an annual income of $1,140. One investment yields 6% a year, while the other yields 8% a year. How much is invested at each rate?
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Quantity:: s + e = 16000
Interest::6s +8e = 114000
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Modify for elimination::
3s + 3e = 48000
3s + 4e = 57000
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Subtract and solve for "e"::
e = $9000 (amt. invested at 8%)
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Solve for "s"::
s = 16000 - 9000 = $7000 (amt. invested at 6%)
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Cheers,
Stan H.
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