SOLUTION: Helen Weller invested $11,000. Part of it was invested a 5% interest and the rest was invested at 4% interest. How much was invested at each rate if $520 was earned in interest the
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-> SOLUTION: Helen Weller invested $11,000. Part of it was invested a 5% interest and the rest was invested at 4% interest. How much was invested at each rate if $520 was earned in interest the
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Question 501884: Helen Weller invested $11,000. Part of it was invested a 5% interest and the rest was invested at 4% interest. How much was invested at each rate if $520 was earned in interest the first year? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 5%
Let = amount invested @ 4%
given:
(1)
(2)
--------------------
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
(2)
$8,000 was invested @ 5% and $3,000 was invested @ 4%
check answer:
(2)
(2)
(2)
(2)
OK
