SOLUTION: Pat invested a total of $3000. Part of the money yields 10% interest per year and the rest yields %8 interest per year. If the total yearly interest fromt his investment is $256 h
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-> SOLUTION: Pat invested a total of $3000. Part of the money yields 10% interest per year and the rest yields %8 interest per year. If the total yearly interest fromt his investment is $256 h
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Question 329117: Pat invested a total of $3000. Part of the money yields 10% interest per year and the rest yields %8 interest per year. If the total yearly interest fromt his investment is $256 how much did Pat invest at 10% and how much did she invest at 8%??? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Pat invested a total of $3000. Part of the money yields 10% interest per year and the rest yields %8 interest per year. If the total yearly interest fromt his investment is $256 how much did Pat invest at 10% and how much did she invest at 8%???
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Equations:
Quantity Equation: x + y = 3000
Interest Equation:0.10x + 0.08y = 256
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Multiply thru the Quantity Eq. by 10
Multiply thru the Interest Eq. by 100
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10x + 10y = 30000
10x + 8y = 25600
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Subtract and solve for "y":
2y = 4400
y = $2200 (amt. invested at 8%)
Since x+y = 3000, x = $800 (amt invested at 10%)
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Cheers,
Stan H.
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