Two investments totaling $50,500 produce an annual income of $3675. One investment yields 9% per year, while the other yields 6% per year. How much is invested at each rate?
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9%=
6%=
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Answer:
9% investment = $21500
6% investment = $29000
Step-by-step explanation:
Define x:
Let x be sum that yields 9%.
(50500 - x ) will be the sum that yields 6%.
Solve x:
/* The total amount yield is $3675 */
0.09x + 0.06(50500 - x) = 3675
0.09x + 3030 - 0.06x = 3675
0.03x = 645
x = 21500
Find the amount:
9% investment = x = $21500
6% investment = 50500 - x = 50500 - 21500 = $29000
Answer: 9% investment = $21500, 6% investment = $29000
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