Question 209968: Translate the problem into a pair of linear equations in two variables. Solve the equations using either elimination or substitution. State your answer for the specified variable.
Mardi received an inheritance of $70,000. She invested part at 10% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $6800. Find the amount invested at 10%.
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! .10X+.08(70,000-X)=6,800
.10X+5,600-.08X=6,800
.02X=6,800-5,600
.02X=1,200
X=1,200/.02
X=$60,000 IS THE AMOUNT INVESTED @ 10%
70,000-60,000=$10,000 INVESTED @ 8%.
PROOF:
.10*60,000+.08*10,000=6,800
6,000+800=6,800
6,800=6,800
|
|
|
