SOLUTION: A retired couple invested part of $11,800 at 6% interest and the rest at 7.5%. If their annual income from these investments is $801, how much was invested at each rate? Please hel
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-> SOLUTION: A retired couple invested part of $11,800 at 6% interest and the rest at 7.5%. If their annual income from these investments is $801, how much was invested at each rate? Please hel
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Question 1151796: A retired couple invested part of $11,800 at 6% interest and the rest at 7.5%. If their annual income from these investments is $801, how much was invested at each rate? Please help! thanks Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! A retired couple invested part of $11,800 at 6% interest and the rest at 7.5%.
If their annual income from these investments is $801, how much was invested at each rate?
:
let x = amt invested at 7.5%
the total invested was 11800, therefore
(11800-x) = amt invested at 6%
:
.075x + .06(11800-x) = 801
distribute .06
.075x + 708 - .06x = 801
.075x - .06x = 801 - 708
.015x = 93
x = 93/.015
x = $6200 invested at 7.5%
then
11800 - 6200 = $5600 invested at 6%
:
:
Check
.075*6200 = 465
.06 *5600 - 336
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total amt: 801
