Anita invested $6000, some at 5% and the rest at 6%. If the yearly income is $337.50, what is the amount invested at each rate?'
Accepted Solution
A:
is this rsm? lol okay.
x is the amount of money invested at 5% y is the amount of money invested at 6% the total amount of money invested is $6000, or x+y when it says the yearly income is $337.50, it means that the 5% of x plus the 6% of y equals $337.50.
now write the two equations:
x+y =6000
0.05x + 0.06y = 337.50
now, find y for the first equations, which is y= 6000 - x. use this equation to substitute for the second equation.
0.05x + 0.06(6000 -x) = 337.50
blah, blah, blah, solve for x... you should get x = 2250, and y = 3750.