SOLUTION: $20,287 is invested, part at 12% and the rest at 9%. If the interest earned from the amount invested at 12% exceeds the interest earned from the amount invested at 9% by $492.99, h
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-> SOLUTION: $20,287 is invested, part at 12% and the rest at 9%. If the interest earned from the amount invested at 12% exceeds the interest earned from the amount invested at 9% by $492.99, h
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Question 929423: $20,287 is invested, part at 12% and the rest at 9%. If the interest earned from the amount invested at 12% exceeds the interest earned from the amount invested at 9% by $492.99, how much is invested at each rate? (Round to two decimal places if necessary.) Answer by TimothyLamb(4379) (Show Source):
You can put this solution on YOUR website! x = amount invested at 12%
y = amount invested at 9%
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x + y = 20287
0.12x = 0.09y + 492.99
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put the system of linear equations into standard form
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x + y = 20287
0.12x - 0.09y = 492.99
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copy and paste the above standard form linear equations in to this solver:
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solution:
x = amount invested at 12% = 11042
y = amount invested at 9% = 9245
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