SOLUTION: A church building fund has invested some money in two ways: parts of the money at 4% interest and four times as much at 3.5%. Find the amount invested at each rate if the total ann
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Question 429932: A church building fund has invested some money in two ways: parts of the money at 4% interest and four times as much at 3.5%. Find the amount invested at each rate if the total annual income from interest is $3600.
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
.04x+.035(4x)=3600
.04x+.14x=3600
.18x=3600
x=3600/.18=20000
$20000 was invested at 4%, and $80000 was invested at 3.5%..
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