document.write( "Question 765288: nico is saving money for his college education. he invest some money at 7% and at 1600 less than that amount at 3%. the invests produces a total of $202 interest in 1 yr. how much did he invest at each rate. 7% and at 3% \n" ); document.write( "
Algebra.Com's Answer #466056 by reviewermath(1029)![]() ![]() You can put this solution on YOUR website! Q: \n" ); document.write( "nico is saving money for his college education. he invest some money at 7% and at 1600 less than that amount at 3%. the invests produces a total of $202 interest in 1 yr. how much did he invest at each rate. 7% and at 3% \n" ); document.write( "------------------------------------------------------------------- \n" ); document.write( "A: \n" ); document.write( "Let x = amount invested at 7% \n" ); document.write( "therefore, x - 1600 = amount invested at 3% \n" ); document.write( "0.07x + 0.03(x - 1600) = 202 \n" ); document.write( "0.07x + 0.03x - 48 = 202 \n" ); document.write( "0.1x = 250 \n" ); document.write( "x = 2500 \n" ); document.write( "x - 1600 = 900 \n" ); document.write( "ANSWERS: $ |