Question 908771: Melanie invested $1,800 at the beginning of 2001 in two different stocks, Ramona Corp. and Bakery Brothers. Ramona corp. earned 6% simple interest for the year, while Bakery Brothers earned 9%. In total, Melanie earned $141 for the year. How much was invested in each stock?
Answer by richwmiller(17219)   (Show Source):
You can put this solution on YOUR website! Total amount of money invested: $1800
x+y=1800,
Total yearly interest for the two accounts is: $141
0.06*x+0.09*y=141
x=1800-y
Substitute for x
0.06*(1800-y)+0.09*y=141
Multiply out
108-0.06*y+0.09*y=141
Combine like terms.
0.03*y=33
Isolate y
y=$ 1100.00 at 9%
x=1800-y
Calculate x
x=$ 700.00 at 6%
Check
0.06*700+0.09*1100=141
42+99=141
141=141
If this statement is TRUE and neither x nor y is negative then all is well
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