$6300 is invested, part of it at 11% and part of it at 8%. For a certain year, the total yield is $597.00. How much was invested at each rate?
6300=x + Y
.11x + .08y=597
cna you take if from here?
To solve this problem, let's assume that the amount invested at 11% is represented by 'x' dollars, and the amount invested at 8% is represented by '6300 - x' dollars.
Now, we can set up the equation to find the total yield:
(yield from 11%) + (yield from 8%) = $597
The yield from investing 'x' dollars at 11% is calculated by multiplying 'x' by 0.11, and the yield from investing '6300 - x' dollars at 8% is calculated by multiplying '6300 - x' by 0.08.
So, our equation becomes:
0.11x + 0.08(6300 - x) = 597
Let's solve this equation to find the value of 'x'.