SOLUTION: Part of $11,000 was invested by an investment club at 10% interest and the rest at 12%. The annual income from the investments is $1,260. How much was invested at each rate?
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Question 930402: Part of $11,000 was invested by an investment club at 10% interest and the rest at 12%. The annual income from the investments is $1,260. How much was invested at each rate? Answer by TimothyLamb(4379) (Show Source):
You can put this solution on YOUR website! x = amount at 10%
y = amount at 12%
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x + y = 11000
0.10x + 0.12y = 1260
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put the system of linear equations into standard form
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x - y = 49
x - 4y = -8
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copy and paste the above standard form linear equations in to this solver:
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solution:
x = amount at 10% = 3000
y = amount at 12% = 8000
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