SOLUTION: Katie invested a total of ​$4000 ​, part at 2 ​% simple interest and part at 3 ​% simple interest. At the end of 1​ year, the investments had

Algebra ->  Trigonometry-basics -> SOLUTION: Katie invested a total of ​$4000 ​, part at 2 ​% simple interest and part at 3 ​% simple interest. At the end of 1​ year, the investments had      Log On


   

Question 1093417: Katie invested a total of ​$4000
​,
part at 2
​%
simple interest and part at 3
​%
simple interest. At the end of 1​ year, the investments had earned ​$93

interest. How much was invested at each​ rate?
Found 2 solutions by richwmiller, ikleyn:
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
make two equations
first dealing with the amounts invested
x+y=4000
second an equation dealing with the interest earned
.03x+.02y=93
now solve

Answer by ikleyn(52776) About Me  (Show Source):
You can put this solution on YOUR website!
.
For examples, samples, and templates on solving this type of equations with detailed explanations see the lesson
    - Using systems of equations to solve problems on investment
in this site.


Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lessons are the part of this online textbook under the topic "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.