SOLUTION: Nico is saving money for his college education. He invests money at 9% and $1500 less than that amount at 7%. The investment produced $279 interest in 1 year. Home much did he inve

Question 897714: Nico is saving money for his college education. He invests money at 9% and $1500 less than that amount at 7%. The investment produced $279 interest in 1 year. Home much did he invest at each rate?
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
Nico is saving money for his college education. He invests money at 9% and $1500 less than that amount at 7%. The investment produced $279 interest in 1 year. Home much did he invest at each rate?
***
let x=amt invested at 9%
x-1500=amt invested at 7%
..
9%x+7%(x-1500)=279
.09x+.07x-105=279
.16x=384
x=2400
x-1500=900
amt invested at 9%=$2400
amt invested at 7%=$900
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