Answer:
Sam invested $1200 at 8% and $600 at 6%
Step-by-step explanation:
A linear system with two equations can be modeled from the information given. Let 'x' be the amount invested at 8% and 'y' the amount invested at 6%
The sum of both amounts invested at an 8% rate and 6% rate equals 1800
[tex]x+y = 1800[/tex]
The yearly income on the 8% investment was $24 more than twice the income from the 6%
[tex]0.08x = 2*(0.06)y + 24[/tex]
Solving the linear system:
[tex]0.08x = 2*(0.06)y + 24\\x = 1.5y +300\\\\(1.5y +300)+y = 1800\\2.5y=600\\y=550.75\\x=1.5*(600) +300\\x=1200[/tex]
Sam invested $1200 at 8% and $600 at 6%
