SOLUTION: Asia invested $15,000 and she earned an annul interest of $1350. She put some of the money in the bank at 6% interest per year and invested the rest at 11% interest per year. How m
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-> SOLUTION: Asia invested $15,000 and she earned an annul interest of $1350. She put some of the money in the bank at 6% interest per year and invested the rest at 11% interest per year. How m
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Question 420355: Asia invested $15,000 and she earned an annul interest of $1350. She put some of the money in the bank at 6% interest per year and invested the rest at 11% interest per year. How much did she invest at each rate? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Asia invested $15,000 and she earned an annul interest of $1350. She put some of the money in the bank at 6% interest per year and invested the rest at 11% interest per year. How much did she invest at each rate?
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Equations:
Quantity: x + y = 15000
Interest:0.06x + 0.11y = 1350
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Multiply thru the 1st by 6
Multiply thru the 2nd by 100
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6x + 6y = 6*15000
6x + 11y = 135000
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Subtract and solve for "y":
5y = 45000
y = 9000 (amt invested at 11%
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solve for "x":
x = 15000-9000 = 6000 (amt. invested at 6%
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Cheers,
Stan H.
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