SOLUTION: Nico is saving money for his college education. he invests some money at 9%, and $110 less than that amount at 7%. The investment produce a total of $259 interest in 1 yr. How much
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-> SOLUTION: Nico is saving money for his college education. he invests some money at 9%, and $110 less than that amount at 7%. The investment produce a total of $259 interest in 1 yr. How much
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Question 1033627: Nico is saving money for his college education. he invests some money at 9%, and $110 less than that amount at 7%. The investment produce a total of $259 interest in 1 yr. How much did he invest at each rate? Answer by JoelSchwartz(130) (Show Source):
You can put this solution on YOUR website! x=amount of money invested at nine percent interest
y=amount of money invested at seven percent interest
x+110=y
259=.07y+.09x
259=.07(x+110)+.09x
259=.07x+7.7+.09x
259=.16x+7.7
259-7.7=.16x
251.3=.16x
100*251.3=.16x*100
25,130=16x
25,130/16=x
x=1,570.625
y=1,680.625
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