SOLUTION: maria receives 225 dollars annual interest income on two investments. if the amount she invested at 6 percent was 450 more than the amount she invested at 8 percent how much did sh

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: maria receives 225 dollars annual interest income on two investments. if the amount she invested at 6 percent was 450 more than the amount she invested at 8 percent how much did sh      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 911654: maria receives 225 dollars annual interest income on two investments. if the amount she invested at 6 percent was 450 more than the amount she invested at 8 percent how much did she invest at 6 percent and at 8 percent
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
We don't know the total invested.
We know the difference in the two accounts.
We know that the interest for the two accounts is $225
0.06*x+0.08*y=225
We know that the account at 6% has $450 more.
x=450+y
We substitute for x
0.06*(450+y)+0.08*y=225
We multiply out
27+0.06y+0.08*y=225
We combine like terms.
0.14*y=198
Isolate y
y=$1414.28571 at 8%
x=450+y
Calculate x
x=$1864.28571 at 6%
Now,we know the total invested is: 3278.57143
Total invested $1864.28571+$1414.28571=$3278.57143
We check
0.06*1864.28571+0.08*1414.28571=225
111.857143+113.142857=225
225.0=225
Since this statement is TRUE and neither x nor y is negative all is well.
codeintmt