Two investments totaling $64,000 produce an annual income of $3410. One investment yields 2% a year while the other yields 8% per year. How much is invested at each rate?

Question

Two investments totaling $64,000 produce an annual income of $3410.  One investment yields 2% a year while the other yields 8% per year.  How much is invested at each rate?

amistre64 · Answer

3410/64000 = some convoluted percentage ....

a + b = t ; a = t-b

a(x) + b(y) = i

(t-b)(x) + b(y) = i

tx + b(y-x) = i

b at y% = (i-tx)/(y-x)

amistre64 · Answer

b at 8% = (3410-64000(.02))/(.08-.02) .. let me dbl chk that tho

amistre64 · Answer

35500(.08) + 28500(.02) = 3410

amistre64 · Answer

it worked :)

anonymous · Answer

so 3410 is invested at what percent?

amistre64 · Answer

3410 is how much money was made off of the investments in total; so:

35500 at 8%
                       = 3410
28500 at 2%