SOLUTION: Susan invests
2
2 times as much money at
11
11% as she does at
7%. If her total interest after
1 year is
$1160, how much does she have invested at each rate?
Algebra ->
Finance
-> SOLUTION: Susan invests
2
2 times as much money at
11
11% as she does at
7%. If her total interest after
1 year is
$1160, how much does she have invested at each rate?
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Question 1039018: Susan invests
2
2 times as much money at
11
11% as she does at
7%. If her total interest after
1 year is
$1160, how much does she have invested at each rate?
You can put this solution on YOUR website! Let n be the amount invested at 7%. Then:
.11(2n)+.07(n)=1160
.22n+.07n=1160
.29n=1160
n=1160/.29=$4000 invested at 7%
2n=$8000 invested at 11%!!!!!!!!!!!!!!!!!
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