document.write( "Question 1097255: Nico is saving money for his college education. He invests some money at 9%, and 1600 less than that amount at 7%. The investments produced a total of $224 interest in 1 yr. How much did he invest at each rate. \n" ); document.write( "

Algebra.Com's Answer #711659 by ikleyn(52786) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "

\r\n" );
document.write( "Let x be the money amount invested at 9%, in dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then the the money amount invested at 7% is (x-1600) dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then the total interest equation is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "0.09*x + 0.07*(x-1600) = 224.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Solve for x.\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );