Julie invested one part of her $10,000 annual salary at 7.5 percent per year. The second part she invested at 8.5 percent per year. Her income from the two investment was $820. How much did she invest at each rate?
Answer $3,000 and $7,000
Let x and y be the amount invested at 7.5 percent and 8.5 percent respectively. Income = $820 = 7.5% * x + 8.5% * y The total amount invested is also known: 10,000 = x + y Solve the system of the equations to find x and y: x = $3000 and y = $7000
Asked by Tom Tennant · Last updated 5 years ago · 1.6K views · SOURCE
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