SOLUTION: A total of $5000 is invested: part at 6% and the remainder at 14%. How much is invested at each rate if the annual interest is $400
answer for 6%
answer for 14%
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A total of $5000 is invested: part at 6% and the remainder at 14%. How much is invested at each rate if the annual interest is $400
answer for 6%
answer for 14%
Log On
Question 802878: A total of $5000 is invested: part at 6% and the remainder at 14%. How much is invested at each rate if the annual interest is $400
answer for 6%
answer for 14% Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 6.00% per annum ------------- Amount invested =x
Part II 14.00% per annum ------------ Amount invested = y
5000
Interest----- 400.00
Part I 6.00% per annum ---x
Part II 14.00% per annum ---y
Total investment
x + 1 y= 5000 -------------1
Interest on both investments
6.00% x + 14.00% y= 400
Multiply by 100
6 x + 14 y= 40000.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -30000.00
Add this to (2)
0 x 8 y= 10000
divide by 8
y = 1250 - x)
Part I 6.00% $ 3750
Part II 14.00% $ 1250
