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Question 121079: I am in need of help with this word problem.
Angus invested $22,000, part at 3% and part at 14%. If the total interest at the end of the year is $990, how much did he invest at 3%?
The amount I got invested at 3% is $3,000. Is this answer correct?
Thank you for your help with this problem.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Angus invested $22,000, part at 3% and part at 14%. If the total interest at the end of the year is $990, how much did he invest at 3%?
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Let Amt. invested at 14% be "x" ; interest on this is 0.14x
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Amt invested at 3% is "22000-x" ; interest is 0.03(22000-x)=660-0.03x
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EQUATION:
0.14x + 660-0.03x = 990
0.11x = 330
x = $3000 (amt invested at 14%)
22000-3000 = $19000 at 3%
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Cheers,
Stan H.
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