Question 486990: The question is:
Carla invested $23,000.00, part at 16%, and part at 15%.
If the total interest @ the end of the year is $3,500.00, how much did she invest at 16%??
I worked the problem, but not sure if I am right.
I let x= 16%
y= 15%
my final answer was x = $5,000. Was I right?? Your expertise is greatly appreciated.
Found 2 solutions by John10, ej_03:
Answer by John10(297)   (Show Source):
You can put this solution on YOUR website! Your starting seems correctly
You let x be the amount which invest into 16% account
y---------------------------------15% account
The total amount to invest is 23000
x + y = 23000
The total earned amount is 3500
0.16x + 0.15y = 3500
Solve the system to find the amount of each investment
x + y = 23000
0.16x +0.15y = 3500
Hint: the answers are $5,000 in 16% account and $18,000 in 15 % account
Hope it'll help you! John10:)
Answer by ej_03(8)  (Show Source):
You can put this solution on YOUR website! I also have the same computation regarding the problem, mine goes like this..
let x=16%
y=15%
eq1 x+y =23000
y =23000-x
eq2 0.16x+0.15y =3500
perform the indicated operations in the equation:
0.16x+0.15(23000-x)=3500
0.16x+3450-0.15x=3500
0.16x-0.15x=3500-3450
0.01x/0.01x=50/0.01
x=5000
y=23000-5000
=18000
therefore carla invested 5000 at 16%.
thank you...=)
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