SOLUTION: Louise splits an investment of $21000 , a portion earning simple interest at a rate of 4 % per year and the rest earning at a rate of 6.8 % per year in such a way that the return o
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Question 793232: Louise splits an investment of $21000 , a portion earning simple interest at a rate of 4 % per year and the rest earning at a rate of 6.8 % per year in such a way that the return on the total investment is 5.96%. How much money was invested at a rate of 4% and a rate of 6.8%
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Louise splits an investment of $21000 , a portion earning simple interest at a rate of 4 % per year and the rest earning at a rate of 6.8 % per year in such a way that the return on the total investment is 5.96%. How much money was invested at a rate of 4% and a rate of 6.8%
$ x at 4%
$(21000-x) 6.8%
Total Interest = 5.96% of 21000
4%x+(21000-x)*6.8% = 5.96%*21000
multiply by 100
4x+6.8(21000-x) = 5.96*21000
4x+142800-6.8x =125160
-2.8x = 125160-142800
-2.8x =-17640
/-2.8
x=6300 at 4%
you can workout the other amount
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