Mirian C. answered 11/15/20
I have 8+ years of experience tutoring math; would love to help you!
Let:
X=amt. invested at 10%
Y=amt. invested at 12%
We have 2 unknowns, therefore we need 2 equations to solve the problem. We know that our initial total investment is $22,000 and that our total yield is $2900. Therefore:
X + Y = 22,000
0.10X + 0.12Y = 2900
By using the substitution method:
Y = 22,000 - X (from the first equation)
Substituting this value of X into the 2nd equation we can solve for Y:
0.10X + 0.12(22,000-X) = 2900
0.10X +2640 - 0.12X = 2900
-0.02X = 260
X = 260/-0.02
X=-13,000
Putting this value of X into the 1st equation we can solve for Y:
Y= 22,000 - X
Y = 22,000 -(-13,000)
Y = 35,000
Therefore the answer is:
$35,000 is invested at 12% and -$13,000 is invested at 10%.