SOLUTION: Nick is saving money for his college education. He invests some money at 9%, and $1400 less than that amount at 6%. The investments produced a total of $201 interest in 1 yr. How m

Question 1097256: Nick is saving money for his college education. He invests some money at 9%, and $1400 less than that amount at 6%. The investments produced a total of $201 interest in 1 yr. How much did he invest at each rate.
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
.

Let x be the money amount invested at 9%, in dollars.


Then the the money amount invested at 6% is (x-1400) dollars.


Then the total interest equation is


0.09*x + 0.06*(x-1400) = 201.


Solve for x.

RELATED QUESTIONS
Nico is saving money for his college education. He invests some money at 9%, and... (answered by ankor@dixie-net.com)

Nico is saving money for his college education. He invests some money at 9%, and $1400... (answered by dkppathak)

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 money at 9% and $1500 less... (answered by lwsshak3)

Nico is saving money for his college education. He invests some money at 7%, and... (answered by richwmiller)

Nico is saving money for his college education. he invests some money at 9%, and $110... (answered by JoelSchwartz)

Nico is saving money for his college education. He invests some money at 9%, and 1600... (answered by ikleyn)

Nico is saving money for his college education. He invests some money at 6%, and $1300... (answered by addingup)

Nico is saving money for his college education. He invests some money at 8%, and... (answered by Boreal)