SOLUTION: Last year Maria invested $10,000, part at 6% annual interest and the rest at 8% annual interest. if she received $760 in interest at the end of the year, how much dis she invest a

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Question 397688: Last year Maria invested $10,000, part at 6% annual interest and the rest at 8% annual interest. if she received $760 in interest at the end of the year, how much dis she invest at each rate?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Last year Maria invested $10,000, part at 6% annual interest and the rest at 8% annual interest. if she received $760 in interest at the end of the year, how much dis she invest at each rate?
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Quantity Eq: x + y = 10,000
Interest Eq:0.06x+0.08y = 760
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Multiply thru 1st Eq. by 6
Multiply thru 2nd Eq. by 100
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6x + 6y = 6*10000
6x + 8y = 76000
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Subtract 1st equation from 2nd and solve for "y":
2y = 16000
y = $8000 (amt. invested at 8%)
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Solve for "y":
x + y = 10,000
x + 8000 = 10,000
x = $2000 (amt. invested at 6%)
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Cheers,
Stan H.
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