00:01
Here we have a total of $20 ,000 that we can invest, where a portion of it we will invest at 8 % and the remainder at 12%.
00:11
So combining those two amounts will equal $20 ,000, but we want to say that 8%, i'll go ahead and start it as a decimal 0 .08 of one portion plus 12 % of the other portion.
00:26
We want it to result in 11 % of that total 20 ,000.
00:34
So we have to determine how much of each percentage we are going to invest.
00:41
So i'm going to start by solving for one of my variables in the first equation, and i'm just going to solve for x, and all that means is i'm subtracting y on both sides.
00:55
And then i can use substitution method to substitute this value for the 8 .000.
01:00
X down here.
01:02
So let's go ahead and rewrite that as 0 .08 times this value of x which is 20 ,000 minus y plus 0 .12y and if you go ahead and multiply these two together you get 2 ,200.
01:27
Now we can simplify and start to solve for y...