Question

$9500 is invested, part of it at 11% and part of it at 8%. For a certain year, the total yield is $937.00. How much was invested at each rate

Answer 1

5900 at 11%

3600 at 8%

Explanation:

x= invested at 11%

y= invested at 8%

x+y=9500

.11x+.08y=937

Mulitply the first equation by .11

.11x+.11y= 1045

Subtract this and the second equation

(.11x+.11y)-(.11x+.08y)=1045-937

.03y=108

y=3600

SOlve for x

x+3600=9500

x=5900