Question

$9500 is invested part of it at 12% and part of it at 9%, for a certain year the total yield is $1032.00. How much was invest at each rate?

Answer 1

so what i did was a long process but it worked i started by taking $5550 and multiplying it by .12 which gave me $666 then i did 9500-5550=3950 then i took 3950 and multiplied it by .09 and it gave me 355.5 then i added those together and got 1021.5 so i needed to increase the amount i invested at 12% to get a higher yield. i did this process a few more times and each time i increase the amount of money i invested at 12% by 25 dollars and i finally arrived at:

5900 x .12 = $708

9500-5900=3600

3600 x .09 =$324

708+324= $1032

so your answer is that you invested $5900 at 12% and $3600 at 9%.

add me as a friend if you like because i am generally good at math. hope this helped.