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Svetach [21]
4 years ago
14

A total of ​$5900 is​ invested, part at 11​% simple interest and part at 6​%. If the total annual return from the two investment

s is ​$nbsp 509.00​, how much is invested at each​ rate?
Business
1 answer:
joja [24]4 years ago
6 0
<h3>$ 3100 is invested at 11 % interest and $ 2800 is invested at 6 % interest</h3>

<em><u>Solution:</u></em>

Let x = the amount invested at 11%

Then, 5900 - x = the amount invested at 6%

The total annual return from the two investments is ​$ 509.00

Therefore,

11 % of x + 6 % of 5900 - x = 509

\frac{11}{100} \times x + \frac{6}{100} \times (5900 - x) = 509\\\\Simplify\\\\0.11x + 0.06(5900 - x) = 509\\\\0.11x + 354 - 0.06x = 509\\\\0.05x = 509 - 354\\\\0.05x = 155\\\\Divide\ both\ sides\ by\ 0.05\\\\x = 3100

Thus, $ 3100 is invested at 11 % interest

5900 - x = 5900 - 3100 = 2800

Thus, $ 2800 is invested at 6 % interest

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