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ALGEBRA / MATH / FINANCIAL

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PLEASE HELP.. HERE'S THE QUESTION....
RYAN IS GOING TO INVEST $4000 INTO 2 INVESTMENT OPTIONS. ONE OPTION PAYS 3% AND THE OTHER OPTION PAYS 3.5% SIMPLE INTEREST. HOW MUCH DID RYAN INVEST IN EACH OPTION IF THE INTEREST EARNED IN THE OPTION PAYING 3.5% SIMPLE INTEREST IS $94.50 MORE THAN THE INTEREST EARNED IN THE 3% OPTION?

  • ALGEBRA / MATH / FINANCIAL -

    x at 3%
    4000-x at 3.5%

    .035(4000-x) = .03x + 94.50
    x = 700

    so, $700 at 3%, $3300 at 3.5%

    check: .03*700 = 21.00
    .035*3300 = 115.50 = 21.00+94.50

  • ALGEBRA / MATH / FINANCIAL -

    ali's father gave him Rs. 245 for buying stamps. he brought stamps of Rs. 5, Rs. 10 and Rs. 15. the n of the stamps of RS. 5 and Rs. 15 were 2:3 and 1:5 of the no. of Rs. 10 stamps, find the no of each type of stamps he got.

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