SOLUTION: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $585? Thank

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $585? Thank      Log On


   

Question 1021913: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $585?
Thanks! :)
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x+ = amount to be invested @ 9% simple interest
+.06%2A3000+%2B+.09x+=+585+
+180+%2B+.09x+=+585+
+.09x+=+405+
+x+=+4500+
$4,500 needs to be invested @ 9%
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check:
+.06%2A3000+%2B+.09x+=+585+
+180+%2B+.09%2A4500++=+585+
+180+%2B+405+=+585+
+585+=+585+
OK