Question 113232This question is from textbook
: I just need help setting up the equations and I can do the rest. Word problems have never been easy for me!
Substitution method or addition method from system of equations
George has two investments that yield a total of $185.60 in annual interest. The amount invested at 8% is $320 less than twice the amount invested at 6%. How much is invested at each rate?
Amount invested at 8%?
Amount invested at 6%?
This question is from textbook
Answer by SHUgrad05(58)   (Show Source):
You can put this solution on YOUR website! To set up this word problem,it's good to start writing out what we know:
We know George has two investments (let's call them x & y), one at 6% and the other at 8%.
The two investments yield a total of $185.60 in annual interest.
So, 0.06x+0.08y=185.60
Next:
We know the amount invested at 8% is $320 less than twice the amount invested at 6% which means: y=2x-320.
So that leaves us with: 0.06x+0.08y=185.60 and y=2x-320
Use the substitution method to continue solving. I hope this helps you out!
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