SOLUTION: Nico is saving money for his college education. He invests some money at 7%, and $1800 less than that amount at 3%. The investments produced a total of $196 interest in 1 year.

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Question 739728:
Nico is saving money for his college education. He invests some money at 7%, and $1800 less than that amount at 3%. The investments produced a total of $196 interest in 1 year. How much did he invest at each rate?
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
.07X+.03(X-1,800)=196
.07X+.03X-54=196
.10X=196+54
.10X=250
X=250/.10
X=$2,500 INVESTED @ 7%
PROOF:
.07*2,500+.03(2,500-1,800)=196
175+.03*700=196
175+21=196
196=196