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Question 992408: A man invested part of $10,000 at 6% and rest at 7%. The annual income from 7% invested was $35 less than seven times the annual income from the 6% invested. How did he invest at each rate?
i'm not sure if this is correct.
let x = amount invested at 6%
10,000 - x = amount invested at 7%
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A man invested part of $10,000 at 6% and rest at 7%.
The annual income from 7% invested was $35 less than seven times the annual income from the 6% invested. How did he invest at each rate?
i'm not sure if this is correct.
let x = amount invested at 6%
10,000 - x = amount invested at 7%
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0.07(10000-x) - 7*0.06x = 35
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7(10000-x) - 42x = 3500
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70000 - 7x - 42x = 3500
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-49x = -66500
x = $1357.14 (amt. invested at 6%
10,000-x = $8642.86 (amt. invested at 7%)
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Cheers,
Stan H.
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