Solve the problem.
-Sue invested $10,000, part at 5.9% annual interest and the balance at 6.7% annual interest. How much is invested at each rate if a 1-year interest payment is $645.52?
A) $2960 at 5.9% and $4160 at 6.7%
B) $3160 at 5.9% and $6840 at 6.7%
C) $3060 at 5.9% and $6940 at 6.7%
D) $6940 at 5.9% and $3060 at 6.7%

Question

Quizplus · Accepted Answer

Let x be the amount invested at 5.9%, then (10000 - x) is invested at 6.7%. The equation is 0.059x + 0.067(10000 - x) = 645.52. Solving this gives x = 3060, so $3060 is invested at 5.9% and $6940 at 6.7%.

Solve the Problem. -Sue Invested $10,000, Part at 5.9% Annual Interest and the Interest