SOLUTION: Holly invested two equal amounts of money, one at 4.5% and the other at 5% simple interest. Her total annual interest from the two investments was Php7,600. How much did she put in
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Question 882167: Holly invested two equal amounts of money, one at 4.5% and the other at 5% simple interest. Her total annual interest from the two investments was Php7,600. How much did she put in at each rate?
You can put this solution on YOUR website! Holly invested two equal amounts of money, one at 4.5% and the other at 5% simple interest.
Her total annual interest from the two investments was Php7,600. How much did she put in at each rate?
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Let a = amt invested at each rate
:
.045a + .05a = 7600
.095a = 7600
a = 7600/.095
a = $80,000 at each rate
