document.write( "Question 1018957: sheryl won $60000 on slot machine in oxford. She invested part of the money at 2% and the rest at 3%. in one year she earned a total of $1600 in interest. How much was invested at each rate? \n" ); document.write( "

Algebra.Com's Answer #634939 by MathTherapy(10552) $\"\"$ $\"About$

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\n" ); document.write( "sheryl won $60000 on slot machine in oxford. She invested part of the money at 2% and the rest at 3%. in one year she earned a total of $1600 in interest. How much was invested at each rate?
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Let amount invested at 2%, be T
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document.write( "Then amount invested at 3% is: 60,000 - T
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document.write( "We then get: .02T + .03(60,000 - T) = 1,600
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document.write( ".02T + 1,800 - .03T = 1,600
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document.write( ".02T - .03T = 1,600 - 1,800
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document.write( "- .01T = - 200
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document.write( "T, or amount invested at 2% = , or 
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document.write( "Amount invested at 3% = $60,000 - $20,000, or  \n" );
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