SOLUTION: A man invests part of $6,000 at 4% interest and the rest at 3% interest. His total annual income is $225. How much has he invested at each rate?
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Question 137110: A man invests part of $6,000 at 4% interest and the rest at 3% interest. His total annual income is $225. How much has he invested at each rate?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.04X+.03(6,000-X)=225
.04X+180-.03X=225
.01X=225-180
.01X=45
X=4500 AMOUNT INVWESTED @ 4%
6000-4500=1500 INVESTED @ 3%
PROOF:
.04*4500+.03*1500=225
180+135=225
225=225
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