SOLUTION: A total of $3500 was invested, part of it at 6% interest and the remainder at 11%. If the total yearly interest amounted to $350, how much was invested at each rate?
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Question 901550: A total of $3500 was invested, part of it at 6% interest and the remainder at 11%. If the total yearly interest amounted to $350, how much was invested at each rate? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! x+y=3500,
0.06*x+0.11*y=350
x=3500-y
0.06*(3500-y)+0.11*y=350
210-0.06y+0.11*y=350
0.05*y=140
y=2800 at 11%
x=3500-y
x=700 at 6%
check
0.06*700+0.11*2800=350
42+308=350
350=350
ok
