SOLUTION: $9500 is invested, part of it at 10% and part of it at 8%. For a certain year, the total yield is $878.00. How much was invested at each rate?
How much was invested at 10%?
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How much was invested at 10%?
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Question 373434: $9500 is invested, part of it at 10% and part of it at 8%. For a certain year, the total yield is $878.00. How much was invested at each rate?
How much was invested at 10%?
How much was invested at 8%? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested at 10%
Let = amount invested at 8%
given:
(1)
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
$5,900 was invested at 10% and $3,600 was invested at 8%
check answer:
OK
