SOLUTION: Nico is saving money for his college education. He invests some money at 5%, and ​$2100 less than that amount at 4 %. The investments produced a total of ​$177 interest in 1 yr

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Question 1134079: Nico is saving money for his college education. He invests some money at 5%, and ​$2100 less than that amount at 4 %. The investments produced a total of ​$177 interest in 1 yr. How much did he invest at each​ rate?
Answer by mathsolverplus(88) About Me  (Show Source):
You can put this solution on YOUR website!
Let x be the first sum of money he invested with the interest rate of 5%,
Interest from the first investment: 5%(x)
Interest from the second investment: (x-2100)(4%)
Total interest:
%280.05%29x%2B%28x-2100%29%280.04%29=177
0.05x%2B0.04x-84=177
%280.09x%29=261
x = 2900
First investment: He invested $2900 with 5% interest rate.
Second investment: He invested $800 with 4% interest rate.


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