SOLUTION: How much of $1000 was invested at 4% and 3%, if the 1 year interest earned was $38?
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Question 277800
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How much of $1000 was invested at 4% and 3%, if the 1 year interest earned was $38?
Answer by
checkley77(12844)
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.04X+.03(1,000-X)=38
.04X+30-.03X=38
.01X=38-30
.01X=8
X=8/.01
X=800 INVESTED @ 4%.
1,000-800=200 INVESTED $ 3%.
PROOF:
.04*800+.03*200=38
32+6=38
38=38