Post a New Question

Math Algebra1A

posted by on .

A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is $1,180, how much of the $12,000 is invested at each rate?

There seems to be a decimal in this problem if so how do I get rid of it verifying x,y?

  • Math Algebra1A - ,

    If x is invested at 9%, 12000-x is invested at 11%. So, adding up the interest,

    .09x + .11(12000-x) = 1180
    x = 7000

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question