Question 648853: Investing: Amanda invests $25,000, part at 5% and the rest at 6%. The annual return on the 5% investment exceeds the annual return on the 6% investment by $40. How much did she invest at each rate?
I know so far:
That interest= principal x rate
so, x= 5%
25,000-x=6%
I keep setting up my equation as follows:
0.05x+0.06(25000-x)=0.05x+40 <-I know that this is most likely wrong, but I'm not sure how else to write it/slve it.
Thanks for your help!
Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website! Investing: Amanda invests $25,000, part at 5% and the rest at 6%. The annual return on the 5% investment exceeds the annual return on the 6% investment by $40. How much did she invest at each rate?
I know so far:
That interest= principal x rate
so, x= 5%
25,000-x=6%
===================
x = amount @ 5%
25000 - x = amount @ 6%
-------
0.05x = interest @ 5%
0.06(25000 - x) = interest @ 6%
------
0.05x = 0.06*(25000 - x) + 40
Solve for x
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I keep setting up my equation as follows:
0.05x+0.06(25000-x)=0.05x+40 <-I know that this is most likely wrong, but I'm not sure how else to write it/slve it.
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