SOLUTION: George invested some money at 5% interest. George also invested $219 more than 4 times that amount at 10%. How much is invested at each rate if George receives $922.80 in interest

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: George invested some money at 5% interest. George also invested $219 more than 4 times that amount at 10%. How much is invested at each rate if George receives $922.80 in interest       Log On


   

Question 1052084: George invested some money at 5% interest. George also invested $219 more than 4 times that amount at 10%. How much is invested at each rate if George receives $922.80 in interest after one year?
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let n be the amount of money invested at 5%. Then the 10% investment would be 4n+219. So:
.05n+.1(4n+219)=922.80
.45n+21.9=922.8
.45n=900.9
n=$2002 invested at 5%,$8227 invested at 10%. ☺☺☺☺