SOLUTION: Aleksandra Tomich invested $ 6,162, part at 8 % simple interest and part at 4 % simple interest for a period of 1 year. How much did she invest at each rate if each account earned
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Question 1156045: Aleksandra Tomich invested $ 6,162, part at 8 % simple interest and part at 4 % simple interest for a period of 1 year. How much did she invest at each rate if each account earned the same interest? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x at 8%
6162-x at 4%
interest totals are equal
.08x=246.48-.04x
.12x=246.48. Divide both sides by 0.12
$2054 at 8 % ($164.32 interest)
$4108 at 4% interest
