SOLUTION: 6300 is invested part of it at 11% and part of it at 8% for a certain year the total yield is 597.00. how much was invested at each rate
How much was invested at 11% and 8%
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How much was invested at 11% and 8%
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Question 569517: 6300 is invested part of it at 11% and part of it at 8% for a certain year the total yield is 597.00. how much was invested at each rate
How much was invested at 11% and 8% Answer by bluemockingjay7(41) (Show Source):
You can put this solution on YOUR website! x = P1 r1 = 11% = .11
6300 - x = P2 r2 = 8% = .08
x(.08) + (6300 - x)(.11) = 597
.08x + 693 - .11x = 597
.08x - .11x = 597 - 693
-.03x = -96
-.03x/-.03 = -96/-.03
x = 3200
invested at 11% = 3200
invested at 8% = 6300 - 3200 = 3100
