Question 1104608
Reliie invests 12,000. A part of it earns 10% interest annually and the rest earns 9% interest annually. His annual income from his investments is 1,130. How much is invested at each rate?
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Quantity Eq:: t + n = 12000
Interest Eq::0.10t + 0.09n = 1130
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Modify for elimination::
10t + 10n = 120000
10t + 9n = 113000
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Subtract and solve for "n"::
n = 7000 (amt. invested at 9%)
t = 12000 - 7000 = 5000 (amt. invested at 10%)
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Cheers,
Stan H.
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