SOLUTION: Jack invests $5000 at a certain annual interest rate, and he invests another $3000 at an annual rate that is one-half percent higher. If he receives a total of $430 interest i

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jack invests $5000 at a certain annual interest rate, and he invests another $3000 at an annual rate that is one-half percent higher. If he receives a total of $430 interest i      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 1122209: Jack invests $5000 at a certain
annual interest rate, and he
invests another $3000 at an
annual rate that is one-half
percent higher. If he receives a
total of $430 interest in 1 year,
at what rate is the $5000
invested?

Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


is the rate (as a decimal) at which the $5000 is invested. Then is the rate at which the $3000 is invested.



Solve for


John

My calculator said it, I believe it, that settles it