Math

posted by .

A woman invested $15,000, part at 7% annual interest and the rest at 8%. If she earned $1,100 in income over a one-year period, how much did she invest at 7%?

  • Math -

    Invested $P @ 7%.
    Invested $(15,000-P) @ 8%.

    P*r*t + (15000-P)*r*t = $1100.
    P*0.07*1 + (15000-P)*0.08*1 = 1100
    0.07P + 1200 -0.08P = 1100
    -0.01P = 1100-1200 = -100
    P = $10,000 @ 7%.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    An investment advisor invested a total of $12,000, part at 2.5% annual simple interest and part at 4% annual simple interest. The amount of interest earned for 1 year was $426. How much was invested at the 2.5% rate and how much was …
  2. algebra

    invest $2,000, part earns 6% year and reh rest earned 11% year. Interest at end of year = $155. How much is invested at each rate?
  3. intermediate algebra

    need the equation for this problem. 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
  4. algebra

    HELP! Please Calvin invested $7500 for one year, part 12% annual interest and the rest at 10% annual interest. His total interest for the year was $890. How much money did he invest at 12%?
  5. algebra

    Calvin invested $7500 for one year, part 12% annual interest and the rest at 10% annual interest. His total interest for the year was $890. How much money did he invest at 12%?
  6. Pre Algerbra

    I invested $3,000, part at 2% and the rest at 5% simple interest. After 1 year, I earned a total of $117 in interest. How much did I invest at each rate?
  7. Business Algebra

    You invest $20,000 in two accounts. Account A earned 4.5% annual simple interest and Account B earned 6% annual simple interest. the total amount of interest earned for 1 year was $987.50, how much was invested into each account?
  8. Algebra

    A woman invested part of $29,000 at 6% interest and the rest at 7%. If her annual interest is $1,895, how much did she invest at 6%?
  9. Algebra

    The Smiths invested $14,000, part at 3% simple interest and the rest at 4% simple interest for a period of one year. if the total interest earned was $460, how much was invested at each rate?
  10. algebra

    mary had 25000 dollars to invest. she invested part of that amount at 3% annual interest and part at 5% annual interest for one year. the amount of interest she earned for both investments was 1100. how much was invested at each rate

More Similar Questions