SOLUTION: Two investments totaling $36,000 produce an annual income of $2715. One investment yields 6% per year, while the other yields 9% per year. How much is invested at each rate?
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Question 953706: Two investments totaling $36,000 produce an annual income of $2715. One investment yields 6% per year, while the other yields 9% per year. How much is invested at each rate?
You can put this solution on YOUR website! S=6% investment; N=9% investment
S+N=$36000
S=$36000-N
0.06S+0.09N=$2715 Substitute for S.
0.06($36000-N)+0.09N=$2715
$2160-0.06N+0.09N=$2715 Subtract 2160 from each side.
0.03N=$555 Divide each side by 0.03
N=$18500 ANSWER 1: $18500 was invested at 9%.
S=$36000-N=$36000-$18500=$17500 ANSWER 2: $17500 was invested at 6% interest.
CHECK:
0.06S+0.09N=$2715
0.06($17500)+0.09($18500)=$2715
$1050+$1665=$2715
$2715=$2715
