Question 1083955

Sam invested $2100, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $28 more than twice the income from the 6% investment. How much did he invest at each rate?
<pre>Let amount invested in the 8% fund be E
Then amount invested in the 6% fund = 2,100 - E
We then get the following INTEREST equation: .08E = 2(.06)(2,100 - E) + 28
Solve this for E, the amount invested in the 8% fund. You should get $1,400.
Subtract value of E from $2,100 to get amount invested in 6% fund.