SOLUTION: Nico is saving money for his college education. He invests some money at 8%, and $1300 less than that amount at 5 %. The investments produced a total of $169 interest in 1 yr. How

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Nico is saving money for his college education. He invests some money at 8%, and $1300 less than that amount at 5 %. The investments produced a total of $169 interest in 1 yr. How       Log On


   

Question 1094150: Nico is saving money for his college education. He invests some money at 8%, and $1300 less than that amount at 5 %. The investments produced a total of $169 interest in 1 yr. How much did he invest at each rate?
He invested $ ______ at 8% and $____ at 5%.
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Some money at 0.08: Let this amount be x
And 1300 less than that amount at 0.05: this amount will be x-1300
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0.08x + 0.05(x-1300) = 169
0.08x + 0.05x-65 = 169
0.13x = 234
x = 1800 this is the amount invested at 8%
1800-1300 = 500 and this the amount at 5%
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Check
0.08(1800) + 0.05(500) = 144 + 25 = 169 Correct