SOLUTION: Alice Gleeson invested a portion of $32,000.00 at 9% interest and the balance at 11% interest, how much did she invest at each rate if her total income from both investments was $3

Algebra ->  Linear-equations -> SOLUTION: Alice Gleeson invested a portion of $32,000.00 at 9% interest and the balance at 11% interest, how much did she invest at each rate if her total income from both investments was $3      Log On


   

Question 108049: Alice Gleeson invested a portion of $32,000.00 at 9% interest and the balance at 11% interest, how much did she invest at each rate if her total income from both investments was $3,200.00?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
.11X+.09(32,000-X)=3,200
11X+2880-.09X=3,200
.02X=3,200-2,880
.02X=320
X=320/.02
X=16,000 AMOUNT INVESTED @ 11%
32,000-16,000=16,000 AMOUNT INVESTED @ 9%
PROOF
.11*16,000+.09*16,000=3,200
1,760+1,440=3,200
3,200=3,200