SOLUTION: Greta invests $5000, part at 7%/a and the remainder at 6%/a. After one year the total interest from these investments was $315. How was invested at 7%?
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Question 1105941: Greta invests $5000, part at 7%/a and the remainder at 6%/a. After one year the total interest from these investments was $315. How was invested at 7%? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Greta invests $5000, part at 7% and the remainder at 6%. After one year the total interest from these investments was $315. How was invested at 7% ?
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Quantity Eq:: v + x = 5000
Interest Eq:: 7v + 6x = 31500
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Modify for elimination::
6v + 6x = 6*5000
7v + 6x = 31500
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Subtract and solve for "v"::
v = 1500 (amt invested at 7%
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Cheers,
Stan H.
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