SOLUTION: The problem in the book says. A portion of $100,000 (x) was invested with a return of 3 percent after one year. The remainder if the investment (y) was invested with a return of 1

Question 1036309: The problem in the book says. A portion of $100,000 (x) was invested with a return of 3 percent after one year. The remainder if the investment (y) was invested with a return of 1 percent. The total return on the investment was $1800. It wants to know how much money was invested at a 3 percent rate of return... I don't understand how to figure it out
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The problem in the book says. A portion of $100,000 (x) was invested with a return of 3 percent after one year. The remainder if the investment (y) was invested with a return of 1 percent. The total return on the investment was $1800. It wants to know how much money was invested at a 3 percent rate of return... I don't understand how to figure it out
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Equations:
Quantity Eq:::t + o = 100,000
Interest Eq:::0.03t + 0.01o = 1800
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Modify for elimination::
t + o = 100,000
3t + o = 180000
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Subtract and solve for "t":
2t = 80000
t = $40,000 (amt. invested at 3%)
o = 100,000- 40,000 = $60,000 (amt. invested at 1%)
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Cheers,
Stan H.
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