SOLUTION: kristen has a total of $1000 to invest. she put parts of it in an account paying 4% interest/year and the rest in bond paying 6.5% interest. if she has $50 in simple interest at th
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Question 1068523: kristen has a total of $1000 to invest. she put parts of it in an account paying 4% interest/year and the rest in bond paying 6.5% interest. if she has $50 in simple interest at the end of the year, how much was invested at each rate? Found 2 solutions by Fombitz, josmiceli:Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! 1.
2.
Multiply eq. 1 by 4 and subtract from eq. 2,
Now solve for B.
Then use either equation to solve for A.
You can put this solution on YOUR website! This looks like a simple interest problem
I can use: where = interest after years = amount invested = interest rate = years invested
------------------------------------------------
(1)
(1)
and
(2)
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(2)
(2)
Substitute (1) into (2)
(2)
(2)
(2)
(2)
and
(2)
(2)
(2)
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(1)
(1)
(1)
and
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$600 was invested @ 4%
$400 was invested @ 6.5%
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check:
and
OK
