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March 25, 2017

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Select the set of equations that represents the following situation: Mike invested $706 for one year. He invested part of it at 5% and the rest at 3%. At the end of the year he earned $28.00 in interest. How much did Mike invest at each rate of interest?

  • intermediate algebra - ,

    x = amount invested at 0.05
    y = amount invested at 0.03

    0.05x + 0.03y = 28.
    x + y = 706

    Solve the set of equations simultaneously

    If you are correct,
    x = $341
    y = $365

  • unlv - ,

    solve. A trust fund has invested $8000 at 6% annual interest. How much additional moey should be invested at 8.5% to obtain a return of 8% on the total amount invested?

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