A total of $5900 is invested, part at 11% simple interest and part at 6%. If the total annual return from the two investments is $nbsp 509.00, how much is invested at each rate?

Solution:

Let x = the amount invested at 11%

Then, 5900 - x = the amount invested at 6%

The total annual return from the two investments is $ 509.00

Therefore,

11 % of x + 6 % of 5900 - x = 509

Thus, $ 3100 is invested at 11 % interest

5900 - x = 5900 - 3100 = 2800

Thus, $ 2800 is invested at 6 % interest

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