SOLUTION: Danny invested some money at 3% simple interest and some money at 7% simple interest. The amount invested at the lower rate. If the total interest on the investments for 1 year was
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Question 1122723: Danny invested some money at 3% simple interest and some money at 7% simple interest. The amount invested at the lower rate. If the total interest on the investments for 1 year was $803, then much did he invest at each rate? Found 2 solutions by Boreal, ikleyn:Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x was at the lower rate
y was at the higher rate
.03x+.07y=803
There are an infinite number of ways this can happen unless "The amount invested at the lower rate...." has a modifier, like "was twice as much as the amount at the higher rate," or something similar.
