Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Discover solutions to your questions from experienced professionals across multiple fields on our comprehensive Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Two investments totaling $37,500 produce an annual income of $2210. One investment yields 6% per year, while the other yields 5% per year. How much is invested at each rate?

Sagot :

173darkknight

Answer:

a = $33,500 at 6%

b = $4,000 at 5%

Detailed Answer:

37,500 = a + b

b = 37,500 - a

a = 37,500 - b

2,210 = a*6% + b*5%

2,210 = a*6% + 5%*(37,500 - a)

2,210 = a*6% - a*5% + 37,500*5%

2,210 = a*(6% - 5%) + 1,875

335 = a*( 6/100 - 5/100)

335 = a*( 1/100)

a = (335*100)/1

a = $33,500

b = 37500 - a

b = 37500 - 33500

b = 4000

Plug back in to check if the amounts invested at each rate equal $2210:

$2210 = a*6% + b*5%

$2210 = 33500*6% + 4000*5%

$2210 = $2010 + $200

$2210 = $2210

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.