SOLUTION: A sum of money invested at 6% interest and a second sum at 5% yield a total annual income of $500. the first sum exceeds the 2nd by $100. Find each investment.
I need the solution
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I need the solution
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Question 825948: A sum of money invested at 6% interest and a second sum at 5% yield a total annual income of $500. the first sum exceeds the 2nd by $100. Find each investment.
I need the solution. Thank you. :* Answer by rothauserc(4718) (Show Source):
You can put this solution on YOUR website! let the second sum be x and the first sum is x+100, therefore
(x+100)*(0.06) + x*(0.05) = 500
0.06x + 6 +0.05x = 500
0.11x = 494
second sum is $4490.90
first sum is $4590.90
check our answers
4590.90 * 0.06 + 4490.90 * 0.05 = 500
275.45 + 224.55 = 500
500 = 500
answer checks :-)
