SOLUTION: Nico is saving money for his college education. He invests some money at 6%, and $1300 less than that amount at 5%. The investments produced a total of $144 interest in 1 yr. How m

SOLUTION: Nico is saving money for his college education. He invests some money at 6%, and $1300 less than that amount at 5%. The investments produced a total of $144 interest in 1 yr. How m

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Question 1033631: Nico is saving money for his college education. He invests some money at 6%, and $1300 less than that amount at 5%. The investments produced a total of $144 interest in 1 yr. How much did he invest at each rate?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
0.06x+0.05(x-1300) = 144
0.06x+0.05x-65 = 144
0.11x = 209
x = 1900
1900 at 6% and 1900-1300 = 600 at 5%
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