SOLUTION: Alvin has $760 less invested in 7% than he has at 5%. If his annual income from these two investments is $51.20, how much does he have invested at each rate?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Alvin has $760 less invested in 7% than he has at 5%. If his annual income from these two investments is $51.20, how much does he have invested at each rate?       Log On


   

Question 1114761: Alvin has $760 less invested in 7% than he has at 5%. If his annual income from these two investments is $51.20, how much does he have invested at each rate?
Answer by rothauserc(4718) About Me  (Show Source):
You can put this solution on YOUR website!
let x be the amount invested at 5%, then
:
0.07(x-760) + 0.05x = 51.20
:
0.07x-53.20 +0.05x = 51.20
:
0.12x = 104.40
:
x = 870
:
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Alvin invested $870 at 5% and $110 at 7%
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