Question 264941: Not sure how to correctly write out problem please help:
Andrew invested a total of $18,000, part at 5% and part at 9%. IF his income for one year from the 9% investment was $100 less than his income from the 5% investment, how much was invested at each rate?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Andrew invested a total of $18,000, part at 5% and part at 9%. IF his income for one year from the 9% investment was $100 less than his income from the 5% investment, how much was invested at each rate?
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Interest Eq:::::0.09x = 0.05(18000-x) - 100
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Multiply thru by 100 to get:
9x = 5*18000 - 5x - 10000
14x = 80000
x = $5714.29 (amount invest at 9%)
18000- 5714.29 = $12285.71 (amt. invested at 5%
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Cheers,
Stan H.
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