SOLUTION: Two investments totaling $41,500 produce an annual income of $2895. One investment yields 9% per year, while the other yields 5% per year. How much is invested at each rate?

Algebra ->  Average -> SOLUTION: Two investments totaling $41,500 produce an annual income of $2895. One investment yields 9% per year, while the other yields 5% per year. How much is invested at each rate?      Log On


   

Question 1017049: Two investments totaling $41,500 produce an annual income of $2895. One investment yields 9% per year, while the other yields 5% per year. How much is invested at each rate?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Let's call the amount at 9% x. Then, the amount at 5% will be 41,500-x.
We have that:
0.09x+0.05(41500-x)= 2895
0.09x+2075-0.05x = 2895 subtract 2075 on both sides and add/subtract x on left:
0.04x = 820 Divide both sides by 0.04
x = 20,500. This is the amount invested at 9%, and:
41,500-20,500 = 21,000 is how much yields 5% per year.
J