SOLUTION: Nico is saving money for his college education. He invests some money at 5%, and $2100 less than that amount at 4 %. The investments produced a total of $177 interest in 1 yr
Algebra.Com
Question 1134079: Nico is saving money for his college education. He invests some money at 5%, and $2100 less than that amount at 4 %. The investments produced a total of $177 interest in 1 yr. How much did he invest at each rate?
Answer by mathsolverplus(88) (Show Source): You can put this solution on YOUR website!
Let x be the first sum of money he invested with the interest rate of 5%,
Interest from the first investment: 5%(x)
Interest from the second investment: (x-2100)(4%)
Total interest:
x = 2900
First investment: He invested $2900 with 5% interest rate.
Second investment: He invested $800 with 4% interest rate.
For more additional instant FREE math help, check out our Instagram account !!!!!!
https://www.instagram.com/mathsolver.plus/
RELATED QUESTIONS
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 invest some money at 5%, and $2300... (answered by josmiceli)
Nico is saving money for his college education. He invest some money at 5%, and $1600... (answered by addingup)
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 5%, and $1900... (answered by checkley77,nyc_function)
Nico is saving money for his college education. He invests some money at 8%, and $1300... (answered by addingup)
Nico is saving money for his college education. He invests some money at 8%, and $1200... (answered by mananth)
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 josgarithmetic)