SOLUTION: Maureen had $2000 to deposit. How much should she deposit at 12% interest, and how much should she invest at 10% if she wishes to earn $230 in interest this year?
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Question 1064404: Maureen had $2000 to deposit. How much should she deposit at 12% interest, and how much should she invest at 10% if she wishes to earn $230 in interest this year? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! Let n be the amount to be invested at 12%. Then the amount to be invested at 10% would be 2000-n. So:
.12n+.1(2000-n)=230
.02n=30
n=30/.02=$1500 to be invested at 12%, and $500 to be invested at 10%. ☺☺☺☺
