SOLUTION: alex invested $12000, part in a term deposit that paid 4% per year and the remainder in bonds that paid 5% per year. the total interest after 1 year way $560. how much did she inve
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: alex invested $12000, part in a term deposit that paid 4% per year and the remainder in bonds that paid 5% per year. the total interest after 1 year way $560. how much did she inve
Log On
Question 1118740: alex invested $12000, part in a term deposit that paid 4% per year and the remainder in bonds that paid 5% per year. the total interest after 1 year way $560. how much did she invest at each rate? Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! some at 4%: x
some at 5%: 12000 - x
0.04x + 0.05(12000-x) = 560
0.04x + 600 - 0.05x = 560
-0.01x = -40
x = 4000
Alex invested 4000 at 4% and 12000-4000 = 8000 at 5%
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
check:
0.04(4000) + 0.05(8000) = 560
160 + 400 = 560 Correct
