SOLUTION: Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned a 4% and the remainder 2.25%, then how much did she invest a

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned a 4% and the remainder 2.25%, then how much did she invest a      Log On

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Question 208104This question is from textbook Elementary & Intermediate Algebra
: Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned a 4% and the remainder 2.25%, then how much did she invest at each rate? This question is from textbook Elementary & Intermediate Algebra

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.04x+.0225(33,000-x)=970
.04x+742.5-.0225x=970
.0175x=970-742.5
.0175x=227.5
x=227.5/.0175
x=$13,000 invested @ 4%
33,000-13,000=$20,000 invested @ 2.25%
Proof:
.04*13,000+.0225*20,000=970
520+450=970
970=970