SOLUTION: Arlene wishes to invest $5000. If she invests part at 7% simple interest, part at 6%, and receives a total of $332 after one year, how much does she invest in each rate?

Algebra ->  Equations -> SOLUTION: Arlene wishes to invest $5000. If she invests part at 7% simple interest, part at 6%, and receives a total of $332 after one year, how much does she invest in each rate?      Log On


   

Question 334801: Arlene wishes to invest $5000. If she invests part at 7% simple interest, part at 6%, and receives a total of $332 after one year, how much does she invest in each rate?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
Let A be the amount at 7%, B the amount at 6%.
1.A%2BB=5000
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%287%2F100%29A%2B%286%2F100%29B=332
2.7A%2B6B=33200
From eq. 1,
A=5000-B
Substitute into eq. 2,
7%285000-B%29%2B6B=33200
35000-7B%2B6B=33200
-B=-1800
B=1800
Then from eq. 1,
A%2B1800=5000
A=3200
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$3200 invested at 7%, $1800 invested at 6%.