SOLUTION: Minda invested her 5,000 earnings from working abroad in two banks, part at 8% annual interest and the rest at 9%. If the total annual interset for both dollar deposits is $435, ho

Question 1059005: Minda invested her 5,000 earnings from working abroad in two banks, part at 8% annual interest and the rest at 9%. If the total annual interset for both dollar deposits is $435, how much was invested at each rate?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Minda invested her 5,000 earnings from working abroad in two banks, part at 8% annual interest and the rest at 9%. If the total annual interset for both dollar deposits is $435, how much was invested at each rate?
-----------------
Equations:
e + n = 5000 dollars
8e+9n = 48500
-------------------------
Modify::
8e + 3n = 8*5000
8e + 9n = 48500
-----
Subtract and solve for "n"::
6n = 8500
n = $1416.67 (amt. invested at 9%)
Solve for "e":
e = 5000 - n = $3583.67
------------
Cheers,
Stan H.
-----------

RELATED QUESTIONS
Larry Mitchell invested part of his $30,000 advance at 5% annual simple interest and the... (answered by greenestamps)

Part of a $8, 000 inheritance was invested at 10% interest and the rest was in- vested at (answered by stanbon)

Sally invested $3000 in two parts. One part was invested at 8% interest and the second... (answered by bucky)

Larry mitchel invested part of his $13,000 advance at 7% annual simple interest and the... (answered by ikleyn,greenestamps)

Larry Mitchell invested part of his $31,000 advance at 5% annual simple interest and the... (answered by amoresroy)

Zoya Lon invested part of her $25,000 advance at 8% annual simple interest and the rest... (answered by Earlsdon)

Cyril invested part of 185 000 at 7% and the rest at 9. If the interest from the 9%... (answered by checkley77)

a woman invested part of 10,000 at 8% annual interest and the rest a 9% interest. Her... (answered by ewatrrr)

A woman invested part of $28,500 at 5% interest and the rest at 7%. If her annual... (answered by jorel1380)