SOLUTION: Sam invests some of his savings at 5% and an equal amount at 6% per year. His income totals 16,500.00 php a year. How much did Sam invest at each rate?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Sam invests some of his savings at 5% and an equal amount at 6% per year. His income totals 16,500.00 php a year. How much did Sam invest at each rate?       Log On

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Question 956014: Sam invests some of his savings at 5% and an equal amount at 6% per year. His income totals 16,500.00 php a year. How much did Sam invest at each rate?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x+ = amount invested at each rate
+.05x+%2B+.06x+=+16500+
+.11x+=+16500+
+x+=+150000+
$150,000 was invested at each rate