SOLUTION: A woman invests $72,000 in two ways - some at 5% and the remaining amount at 3%. Her total annual interest income is $4,130. Find the amount she invests at each rate.

Algebra ->  Finance -> SOLUTION: A woman invests $72,000 in two ways - some at 5% and the remaining amount at 3%. Her total annual interest income is $4,130. Find the amount she invests at each rate.      Log On


   

Question 1209785: A woman invests $72,000 in two ways - some at 5% and the remaining amount at 3%. Her total annual interest income is $4,130. Find the amount she invests at each rate.
Found 2 solutions by josgarithmetic, greenestamps:
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
x invested at 5%, so 72000-x invested at 3%;

0.05x%2B0.03%2872000-x%29=4130
.
.
x=98500
Something is wrong. No way to invest in either interest rate more than the given amount of 72000 to invest.

Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


Faulty information!!

All $72,000 invested at the higher rate of 5% would only earn $3600 interest -- we can't get $4130 interest.

Correct the given information and re-submit....