sheila invested a certain sum of money at 6%. she also invested a second sum, which was $2,000 less than the first sum, at 5%. her total annual income was $890. how much did she invest at each rate?

Answer 1

Let x = amount ($) invested at 6%

Then x - 2000 = amount invested at 5% ($2000 less than 6% amount)

Now for the equation:

.06x + .05(x - 2000) = 890

If you are not comfortable working with decimals multiply every term by 100 to clear the equation of decimals:

6x + 5(x - 2000) = 89000

Solve for x, which gives the amount invested at 6%. Subtract 2000 from x to get amount invested at 5%.

After completing the above check your work here:

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