SOLUTION: You have $20.000 to invest. you invest part at 6% and the rest at 9%. your return on your investment is $14000 at the end of the year. how mush did you invest at each amount?

Algebra ->  Finance -> SOLUTION: You have $20.000 to invest. you invest part at 6% and the rest at 9%. your return on your investment is $14000 at the end of the year. how mush did you invest at each amount?      Log On


   

Question 416308: You have $20.000 to invest. you invest part at 6% and the rest at 9%. your return on your investment is $14000 at the end of the year. how mush did you invest at each amount?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You have $20.000 to invest. you invest part at 6% and the rest at 9%. your return on your investment is $14000 at the end of the year. how mush did you invest at each amount?
-----
Equations:
Quantity: x + y = 20,000
Interest0.06x+0.09y = 14000
----------------------------------
Multiply thru 1st by 6
Multiply thru 2nd by 100
----------------------------------
6x + 6y = 6*20000
6x + 9y = 1400000
---------------------------
Subtract and solve for "y":
3y = 20000
y = $6,666.66 (amt. invested at 6%)
---
Solve for "x":
x + y = 20,000
y = 13,333.34 (amt. invested at 9%
======================
Cheers,
Stan H.
==========