SOLUTION: Katie invested a total of $8000. Part at 5% simple interest and part at 6% simple interest. At the end of 1 year the investments had earned $453 interest. How much was invested at
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Question 1067423: Katie invested a total of $8000. Part at 5% simple interest and part at 6% simple interest. At the end of 1 year the investments had earned $453 interest. How much was invested at each rate. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x at 5%
8000-x at 6%
.05x+.06(8000-x)=453
.05x+480-.06x=453
-.01x=-27
x=2700, multiplying both sides by 100
$2700@5%=$135
$5300@6%=$318
Add to $453.
