SOLUTION: I have so many problems with word problems and I really don't know how to set up the problem please help.
Jose invested a certain amonunt of money at 8% interest and $300 more t
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Jose invested a certain amonunt of money at 8% interest and $300 more t
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Question 231932: I have so many problems with word problems and I really don't know how to set up the problem please help.
Jose invested a certain amonunt of money at 8% interest and $300 more than that amount at 11%. His total yearly interest was $69.10. How much did he invest at the 8% rate? Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .08X+.11(300+X)=69.10
.08X+33+.11X=69.10
.19X=69.10-33
.19X=36.10
X=36.10/.19
X=$190 ANS. FOR THE INVESTMENT @ 8%.
300+190=490 ANS. FOR THE INVESTMENT @ 11%.
PROOF:
.08*190+.11*490=69.10
15.2+53.9=69.10
69.1=69.1
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