SOLUTION: Pam earns $468 per year in simple interest by investing part of her money at 8% and the rest at 6%. If she invests $2000 more of her money at 8% than she invests at 6%, how much mo
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Question 1047029: Pam earns $468 per year in simple interest by investing part of her money at 8% and the rest at 6%. If she invests $2000 more of her money at 8% than she invests at 6%, how much money did she invest at 8%
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
Let n represent the money Pam invests at 8%. Then:
.08n+.06(n-2000)=468
.14n-120=468
.14n=588
n=$4200 at 8%; $2200 at 6%. ☺☺☺☺
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