SOLUTION: Different interest rates. Mrs. Brighton invested $30,000 and received a total of #2,300 in interest. If she invested part of the money at 10% and the remainder at 5%, then how much

Question 16966: Different interest rates. Mrs. Brighton invested $30,000 and received a total of #2,300 in interest. If she invested part of the money at 10% and the remainder at 5%, then how much did she invest at each rate?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let x = the amount invested at 10% and ($30,000 - x) the amount invested at 5%
The interest Mrs. Brighton received from these two investments would be:
(10% of $x) + (5% of ($30,000 - $x)) and this = $2,300 So, knowing this we can solve for x, the amount invested at 10%, and once we have that, we can find the amount invested at 5%. Let's set up the appropriate equation after changing the percents to their decimal equivalents: 10% = 0.1 and 5% = 0.05
Simplify and solve for x.
Combine the x-terms.
Subtract 1500 from both sides.
Divide both sides by 0.05

$16,000 was invested at 10%
$30,000 - $16,000 = $14,000 was invested at 5%
Check:
0.1($16,000) + 0.05($14,000) = $1,600 + $700 = $2,300 Total interest received.

RELATED QUESTIONS
Fill in the blanks. Mrs. Brighton invested $30,000 and received a total of $2,300 in... (answered by Fombitz)

help me with the substitution method word problems.... (answered by checkley71)

donna invested part of her money at 8% and the remainder at 10%, if she invested P400,000 (answered by ikleyn)

donna invested part of her money at 8% and the remainder at 10%, if she invested P400,000 (answered by ikleyn,greenestamps)

donna invested part of her money at 8% and the remainder at 10%, if she invested P400,000 (answered by ikleyn)

Ethan invested $19,000 for 1 year, part at 11% simple interest and part at 13% simple... (answered by ikleyn,mananth,Edwin McCravy,greenestamps)

Lisa invested her lottery winnings of $48 000 in two different mutual funds*. At the end... (answered by Boreal,greenestamps)

Larry Mitchell invested part of his $30,000 advance at 5% annual simple interest and the... (answered by greenestamps)