SOLUTION: $9500 is invested, part of it at 11% and part of it at 7%. For a certain year, the total yield is $901.00. How much was invested at each rate?

Algebra ->  Customizable Word Problem Solvers  -> Coins -> SOLUTION: $9500 is invested, part of it at 11% and part of it at 7%. For a certain year, the total yield is $901.00. How much was invested at each rate?      Log On

 

Hi,

Let x represent amount at 11%

 .11x + .07(9500-x) = 901

          x = (901 - 665)/.04    

          x = 236/.04  = $5900 at 11%  and $3600 at 7%