SOLUTION: Investments Lou invests part of $1500 inheritance at an interest rate of 7% and the rest at an interest rate of 3%. His total interest gained in one year was $45. Ho much did

SOLUTION: Investments Lou invests part of $1500 inheritance at an interest rate of 7% and the rest at an interest rate of 3%. His total interest gained in one year was $45. Ho much did

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Question 907433: Investments Lou invests part of $1500 inheritance at an interest rate of 7% and the rest at an interest rate of 3%. His total interest gained in one year was
$45. Ho much did Lou invest at each rate?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
x amount at 7%
.07x + .03(1500-x) = 45
x = 0, amount at 7%
$1500 at 3%
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