SOLUTION: Nico is saving money for his college education. He invests some money at 8%, and $1500 less than that amount at 4 %. The investments produced a total of $180 interest in 1
Algebra.Com
Question 1134141: Nico is saving money for his college education. He invests some money at 8%, and $1500 less than that amount at 4 %. The investments produced a total of $180 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!
0.08x + 0.04(x-1500) = 180
0.08x + 0.04x - 60 = 180
0.12x = 240
x = 2000
He invested 2000 at 8% and 2000-1500 = 500 at 4%
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Check:
2000*0.08 = 160
500*0.04 = 20
. . . . . ---------
Totas . . . 180 Correct
RELATED QUESTIONS
Nico is saving money for his college education. He invests money at 9% and $1500 less... (answered by lwsshak3)
nico is saving money for his college education he invests some money at 7% and $2200 less (answered by richwmiller)
Nico is saving money for his college education. He invests some money at 8%, and... (answered by jorel1380)
Nico is saving money for his college education. He invests some money at 8%, and $1300... (answered by addingup)
Nico is saving money for his college education. He invest some money at 5%, and $2300... (answered by josmiceli)
Nico is saving money for his college education. He invest some money at 5%, and $1600... (answered by addingup)
Nico is saving money for his college education. He invests some money at 8%, and $1200... (answered by mananth)
Nico is saving money for his college education. He invests some money at 8%, and... (answered by addingup,fractalier)
Nico is saving money for his college education. He invests some money at 8%, and... (answered by josgarithmetic)