Question

A total of $6000 is invested: part at 5% and the remainder at 13%. How much is invested at each rate if the annual interest is $730?

Answer 1

Answer:

625 and 5375

Step-by-step explanation:

X percent on 5

Y percent on 13

0.05X + 0.13Y = 730

X+Y = 6000

5X + 13Y = 73000

X = 6000 - Y

5 (6000 -Y) +13Y = 73000

30000 - 5Y +13Y= 73000

8Y = 43000

Y = 5375

X = 625