SOLUTION: Two investments totaling $38,500 produce an annual income of $2590. One investment yields 3% per year, while the other yields 10% per year. How much is invested at each rate?

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Question 1050209: Two investments totaling $38,500 produce an annual income of $2590. One investment yields 3% per year, while the other yields 10% 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!
One investment, let's call it x, yields 3%
The other will be 38,500-x and yields 10%
Let's put the two together:
0.03x+0.10(38,500-x) = 2,590
0.03x+3,850-0.10x = 2,590 Subtract 0.10x on left and 3,850 on both sides:
-0.07x = -1,260 Divide both sides by -0.07 and remember -/- = +
x = 18,000 this is how much is invested at 3%
and 38,500-18,000 = 20,500 is invested at 10%