SOLUTION: An investment of $950 at one rate and $1200 at and higher rate together earn an annual income of $88.50. If the investments differ by 2%, find the rates for each investment.

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Question 1068648: An investment of $950 at one rate and $1200 at and higher rate together earn an annual income of $88.50. If the investments differ by 2%, find the rates for each investment.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
A and B are the two rates.
950A%2B1200B=8850
A=B%2B2
Substituting,
950%28B%2B2%29%2B1200B=8850
950B%2B1900%2B1200B=8850
2150B=6950
Now solve for B, then use either equation to solve for A.