SOLUTION: Two investments totaling $64,500 produce an annual income of $3560. One investment yields 3% per year, while the other yields 8% per year. How much is invested at each rate?

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Question 1071621: Two investments totaling $64,500 produce an annual income of $3560. One investment yields 3% per year, while the other yields 8% 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: 3%, amount: x
the other: 8%, amount: 64,500-x because x is invested at 3%
0.03x+0.08(64,500-x) = 3,560
0.03x+5,160-0.08x = 3,560
-0.05x = -1,600 divide both sides by 0.05 and remember that -/- = +
x = 32,000 This is the amount invested at 3%
The amount invested at 8% is 64,500-32,000 = 32,500