SOLUTION: A total of $1500 was invested, part of it at 10% per year and the remainder at 6% per year. If the total yearly interest amounted to $130, how much was invested at each rate?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A total of $1500 was invested, part of it at 10% per year and the remainder at 6% per year. If the total yearly interest amounted to $130, how much was invested at each rate?       Log On

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Question 810809: A total of $1500 was invested, part of it at 10% per year and the remainder at 6% per year. If the total yearly interest amounted to $130, how much was invested at each rate?
Answer by oscargut(2103) About Me  (Show Source):
You can put this solution on YOUR website!
x+y = 1500
0.1x+0.06y = 130
Then: x = 1000 and y = 500
Answer: amounts are $1000 (at 10%) and $1000 (at 6%)
You can ask me more at : mthman@gmail.com
Thanks