# word problem

A person invests \$7,500 part at 5% and the remainder at 4% simple interest. If the total interest at the end of the first year was \$346.50, find the amount invested at 4%.

Let x = amount invested at 5%
Let (7500 - x) = amount invested at 4%
0.05x + 0.04(7500 - x) = 346.50
HINT: Multiply each term by 100 to eliminate the decimals.
5x + 4(7500 - x) = 34650 Solve for x. I got x = 4650 and (7500 - x) = 2850

1. 👍
2. 👎
3. 👁

## Similar Questions

1. ### Math

Three individuals form a partnership and agree to divide the profits equally. X invests \$4,500, Y invests \$3,500 and Z invests \$2,000. If the profits are \$1,500, how much less does X receive than if the profits were divided in

2. ### Percentage change

Ethan invested £500 in the bank for 2 years. He earned £40 simple interest in total. What was the simple interest rate per annum?

3. ### business Math

Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: \$19,500 at 8% for 2 years. Use ordinary interest as needed. a. Calculate the simple

4. ### bmath

Ben invests \$19,500 at 12% interest compounded quarterly for 10 years. Calculate the compound amount for his investment.

1. ### Math

A person invested \$7900 for one year, part at 5%, part at 11%, and the remainder at 15%. The total annual income from these investments was \$965. The amount of money invested at 15% was \$500 more than the amounts invested at 5%

2. ### math

Andrew borrows \$79,500 for 5 months on 6.30% interest rate in his saving account. Calculate the simple interest?

3. ### math

Mr. X invested a part of his investment in 10% bond A and a part in 15% bond B. His interest income during the first year is Rs.4,000. If he invests 20% more in10% bond A and 10 % more in 15% bond B, his income during the second

4. ### algebra

Dilbert invests a total of \$14,000 in two accounts paying 9% and 15% simple interest, respectively. How much was invested in each account if, after one year, the total interest was \$1,350.00. A) Enter an equation that uses the

1. ### matc

Al invests \$5,500, at 6% interest, compounded monthly for one year. Calculate the annual percentage yield for his investment.

2. ### Math 81

How can \$60,000 be invested, part at 7% annual simple interest and the remainder at 12% annual simple interest, so that the interest earned by the two accounts will be equal?

3. ### Math

How many integers between 200 and 500 inclusive leave a remainder 1 when divided by 7 and a remainder 3 when divided by 4? Find the smallest positive integer that leaves a remainder 5 when divided by 7, a remainder 6 when divided

4. ### math

Jose invests money in two simple interest accounts. He invests twice as much in an account paying 10% as he does in an account paying 7%. If he earns \$94.50 in interest in one year from both accounts combined, how much did he