Question 831929: "Harold made two investments totaling $11,100. Over the year the two investments earned $1,142 in simple interest. Part of the $11,100 earned 8% while the other part earned 12%. How much was invested at each rate?"
Thank you in advance :)
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! "Harold made two investments totaling $11,100. Over the year the two investments earned $1,142 in simple interest. Part of the $11,100 earned 8% while the other part earned 12%. How much was invested at each rate?"
Thank you in advance :)
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Quantity Eq:: x + y = 11,100
Interest Eq: 8x +12y = 114200
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Modify for elimination:
8x + 8y = 88,800
8x +12y = 114200
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Subtract and solve for "y":
4y = 25,400
y = $6350.00 (amt. invested at 12%
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x = 11,100-6350 = $4750.00
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Cheers,
Stan H.
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