SOLUTION: An executive nearing retirement made two investments totaling $15,000. In one year, these investments yielded $1432 in simple interest. Part of the money was invested at 9% and the

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: An executive nearing retirement made two investments totaling $15,000. In one year, these investments yielded $1432 in simple interest. Part of the money was invested at 9% and the      Log On


   

Question 200284This question is from textbook
: An executive nearing retirement made two investments totaling $15,000. In one year, these investments yielded $1432 in simple interest. Part of the money was invested at 9% and the rest was invested at 10%. How much was invested at each rate?
 This question is from textbook

Answer by tutorcecilia(2152) About Me  (Show Source):
You can put this solution on YOUR website!
x+y= $15,000
so, y=15,000-x
and
.09x+.10y=$1432
so,
.09x+.10(15,000-x)=1432
.09x+1500.-10x=1432
.09x+.10x=-1500+1432
-.01x=-68
-.01x/-.01=-68/-.01
x=6800
Subtracting:
15,000-6800=8,200
So, y=$8,200
Checking:
x+y=15,000
6,800+8,200=15,000
$6,800 was invested at 9%
$8,200 was invested at 10%




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