Question 639474

Two investments totaling $16,000 produce an annual income of $1140. One investment yields at 6% a year, while the other yields at 8% per year. How much is invested at each rate?
I have read this word problem over 20 times. Please help solve this word problem.

principal=16,000
interest=1140
rate


Let amount invested at 6% be S
Then amount invested at 8% = 16,000 - S


Interest earned at 6%, plus interest earned at 8%, equals total interest earned
We therefore have: .06(S) + .08(16,000 - S) = 1,140


.06S + 1,280 - .08S = 1,140


.06S - .08S = 1,140 - 1,280


- .02S = - 140


S, or amount invested at 6% = {{{(- 140)/-.02}}}, or ${{{highlight_green(7000)}}}


Amount invested at 8% = $16,000 - 7,000, or ${{{highlight_green(9000)}}}


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