SOLUTION: todd cardella invested 10,000, from which he earns annual interest income of $550 per year. he invested part of the 10,000 at 5% annual interest and the remainder bonds paying 6% i
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Question 574456: todd cardella invested 10,000, from which he earns annual interest income of $550 per year. he invested part of the 10,000 at 5% annual interest and the remainder bonds paying 6% interest. how much did he invest at each year? Answer by reviewermath(1029) (Show Source):
You can put this solution on YOUR website! Let x=amount invested at 5% annual interest
so 10000-x = amount invested at 6% annual interest
0.05x + 0.06(10000-x) = 550
0.05x + 600 - 0.06x = 550
-0.01x = -50
x = 5000
10000-x = 5000
Answer: $5000 invested at 5% interest and the remaining $5000 invested at 6% interest.
