document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1018106>Question 1018106</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Nico is saving money for his college education. He invests some money at 8&#8203;%, and &#8203;$1900 less than that amount at 3 %. The investments produced a total of &#8203;$240 interest in 1 yr. How much did he invest at each&#8203; rate? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #634268 by </B><A HREF=/tutors/aboutme.mpl?userid=fractalier><B>fractalier(6550)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fractalier><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=fractalier><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=634268\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Call how much Nico invests at 8%, x.<BR>\n" );
document.write( "Then the amount invested at 3% must be x - 1900.<BR>\n" );
document.write( "The setup looks like this<BR>\n" );
document.write( ".08x + .03(x - 1900) = 240<BR>\n" );
document.write( "We then distribute and solve for x...<BR>\n" );
document.write( ".08x + .03x - 57 = 240<BR>\n" );
document.write( ".11x - 57 = 240<BR>\n" );
document.write( ".11x = 297<BR>\n" );
document.write( "Now divide by .11 and get<BR>\n" );
document.write( "x = 297 / .11 = $2700 at 8%<BR>\n" );
document.write( "and thus $1900 less means <BR>\n" );
document.write( "$800 at 3%... </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );