Algebra: Simple Interest
posted by Milly on .
Problem:
Geoff has $5000 to invest. He wants to earn $568 in interest in one year. He will invest part of the money at 12% and the other part at 10%. How will he invest.
+I already know how to do Simplest Interest, I just can't read the problem to find what
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(5000  x).12 + x(.10) = 568
(5000).12  (x).12 + x(.10) = 568
600  .12x + .1x = 568
subtract 600 from both sides
.12x + .1x = 32
.02x = 32
divide both sides by .02
x = 1600
3400 at 12% and 1600 at 10% 
a loan of 25,000 its due in 9 months with an annual interest rate of 10%. Find the total amount that will be due.