SOLUTION: Nico is saving money for his college education. he invests some money at 9%, and $110 less than that amount at 7%. The investment produce a total of $259 interest in 1 yr. How much

Question 1033627: Nico is saving money for his college education. he invests some money at 9%, and $110 less than that amount at 7%. The investment produce a total of $259 interest in 1 yr. How much did he invest at each rate?
Answer by JoelSchwartz(130) (Show Source): You can put this solution on YOUR website!
x=amount of money invested at nine percent interest
y=amount of money invested at seven percent interest
x+110=y
259=.07y+.09x
259=.07(x+110)+.09x
259=.07x+7.7+.09x
259=.16x+7.7
259-7.7=.16x
251.3=.16x
100*251.3=.16x*100
25,130=16x
25,130/16=x
x=1,570.625
y=1,680.625
RELATED QUESTIONS
Nico is saving money for his college education. He invests money at 9% and $1500 less... (answered by lwsshak3)

nico is saving money for his college education he invests some money at 7% and $2200 less (answered by richwmiller)

Nico is saving money for his college education. He invests some money at 9%, and 1600... (answered by ikleyn)

Nico is saving money for his college education. He invests some money at 8%, and... (answered by jorel1380)

nico is saving money for his college education. he invest some money at 7% and at 1600... (answered by reviewermath)

Nico is saving money for his college education. He invest some money at 5%, and $2300... (answered by josmiceli)

Nico is saving money for his college education. He invest some money at 5%, and $1600... (answered by addingup)

Nico is saving money for his college education. He invests some money at 9%, and $1400... (answered by dkppathak)

Nico is saving money for his college education. He invests some money at 9%, and... (answered by ankor@dixie-net.com)