SOLUTION: Angus invested $18,000, part at 3% and part at 5%. If the total interest at the end of the year is $660, how much did he invest at each rate?
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Question 126199: Angus invested $18,000, part at 3% and part at 5%. If the total interest at the end of the year is $660, how much did he invest at each rate? Answer by checkley71(8403) (Show Source):
You can put this solution on YOUR website! .05x+.03(18000-x)=660
.05x+540-.03x=660
.02x=660-540
.02x=120
x=120/.02
x=6000 amount invested @ 5%.
18000-6000=12000 invested @ 3%.
proof:
.05*6000+.03*12000=660
300+360=660
660=660
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