SOLUTION: Two investments totaling $42,500 produce an annual income of $3055. One investment yields 5% a year, while the other yields 8%. How much is invested at each rate?
5% ______
8%
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5% ______
8%
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Question 427764: Two investments totaling $42,500 produce an annual income of $3055. One investment yields 5% a year, while the other yields 8%. How much is invested at each rate?
5% ______
8% ______ Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! x+y=42500
.05x+.08y=3055
5x+8y=305500
5x+5y=212500
3y=93000
y=31000
x=11500
There is $11500 invested at 5% a year, and $31000 invested at 8% per year..
