math

if $9,000 is to be invested, part at 13% and the rest at 8% simple interest , how much should be invested at each rate so that the total annual return will be the same as $9,000 invested at 9% set up as a system of linear equation

  1. πŸ‘ 0
  2. πŸ‘Ž 0
  3. πŸ‘ 34
asked by jota
  1. It's a linear partition problem, since both investments are paid simple interest.
    Amount invested at 8%
    =$9000*(13-9)/(13-8)
    =$7200
    Amount invested at 13%
    =$9000*(9-8)/(13-8)
    =$1800

    Alternatively, using algebra,
    Let x=amount invested at 8%,
    Then (9000-x)=amount invested at 13%
    and the interest obtained should be the same as $9000 invested at 9%:
    x*(8/100)+(9000-x)*(13/100)=9000*(9/100)
    Isolate x,
    x((13-8)/100)=9000(13-9)/100
    x=9000*(13-9)/(13-8)=7200 as before.

    1. πŸ‘ 0
    2. πŸ‘Ž 0
    posted by MathMate

Respond to this Question

First Name

Your Response

Similar Questions

  1. 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?

    asked by Lucas on October 27, 2015
  2. algebra

    Larry Mitchel invested part of his $32,000 advance at 7% annual simple interest and the rest at 6% annual simple interest. If this total yearly interest from both accounts was $2,050, find the amount invested at each. The amount

    asked by lisa on August 27, 2014
  3. Math

    Larry Mitchell invested part of his $27,000 advance at 5% annual simple interest and the rest at 2% annual simple interest. If his total yearly interest from both accounts was $720Ò€‹, find the amount invested at each rate

    asked by Jimmy on November 8, 2017
  4. Algebra

    Katie invested a total of $7,000, part at 2% simple interest, and part at 3% simple interest. At the end of 1 year, the investments earned, $184.00 interest. How much was invested at each rate?

    asked by Mae on February 13, 2017
  5. 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

    asked by Alicia on June 23, 2009
  6. algebra

    two investments were made totaling $15,000. for a certain year these investments yielded $1432 in simple interest. part of the $15,000 was invested at 9% and part at 10%. find the amount invested at each rate. a total of $1150 was

    asked by matt on November 1, 2010
  7. 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?

    asked by Dan on April 25, 2013
  8. math algebra

    Terry Edwards invested $3000 for two years, part at 3.5% simple interest and the rest at 2.5% simple interest. After two years she earned a total interest of $190. How much was invested at each rate?

    asked by estefany on November 6, 2016
  9. Algebra2

    A self-employed contractor nearing retirement made two investments totaling $15,000. In one year, these investments yielded $1023 in simple interest. Part of the money was invested at 6% and the rest at 7.5%. How much was invested

    asked by MR.BEAN the 2ND on February 7, 2018
  10. math

    Katie invested a total of ​$6000 ​, part at 3 ​% simple interest and part at 4 ​% simple interest. At the end of 1​ year, the investments had earned ​$214 interest. How much was invested at each​ rate?

    asked by anthony on February 5, 2017

More Similar Questions