SOLUTION: Jeff won $5,000 in a contest. He invested part of the money at 10% per year and the remainder at 6% per year. If Jeff’s income from the two investments was $420 in one year, how mu

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Question 1028362: Jeff won $5,000 in a contest. He invested part of the money at 10% per year and the remainder at 6% per year. If Jeff’s income from the two investments was $420 in one year, how much did he invest at each rate?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


A person has currency units invested in 2 accounts.

One account earns percent interest, and the other account earns percent interest.

The two accounts earn a total of interest in one year.

How much is invested in each account?

Let be the amount invested at percent. Then the amount invested at percent is , and:



Solve for , then calculate

John

My calculator said it, I believe it, that settles it