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Math 208

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nico is saving money for his college education. He invests some money at 6%, and $1400 less that that amount at 5%. The investments produced a total of $172 interest in 1 yr. how much did he invest at each rate?

  • Math 208 -

    Let x be the amount he invested at 6%.
    Then x-1400 is the amount he invested at 5%.

    Total interest after 1 year
    x*0.06+(x-1400)*0.05=172
    0.11x=172+1400*0.05
    0.11x=242
    x=2200

    Check
    2200*0.06+800*0.05=132+40=172 ok.

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