SOLUTION: Money is invested at two rates of interest. One rate is 6% and the other is
2%.If there is $1200 more invested at 6% than at 2%, find the amount invested at each rate if the tot
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Money is invested at two rates of interest. One rate is 6% and the other is
2%.If there is $1200 more invested at 6% than at 2%, find the amount invested at each rate if the tot
Log On
Question 1158346: Money is invested at two rates of interest. One rate is 6% and the other is
2%.If there is $1200 more invested at 6% than at 2%, find the amount invested at each rate if the total annual interest received is $890.Let x=amount invested at
6% and y= amount invested at 2%.Then the system that models the problem is
{x=y+1200
0.06x+0.02y=890.Solve the system by using the method of addition. Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! (1)
(2)
--------------------------------
(2)
(2)
------------------------------
Add (1) and (2)
(1)
(2)
------------------------------
and
(1)
(1)
(1)
