Question 271685: Piolo invested part of 35,000 in a stock paying 9% interest for 2 yrs and the balance in a stock paying 6% interest for 4 years. It turns out that the two investment earned equal interest. How much was invested at each rate? What is the total interest earned?
Found 2 solutions by checkley77, richwmiller:
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! x(1+.09)^2=(35,000-x)(1+.06)^4
x*1.09^2=(35,000-x)(1.06)^4
x*1.1881=(35,000-x)*1.2625
1.1881x=44187.50-1.2625x
1.1881x+1.2625x=44,187.50
2.4506x=44,187.50
x=44,187.50/2.4506
x=18,031.30 invested @ 9%
35,000-18,031.30=16,968.70 invested @ 6%
Proof:
18,031.30*1.09^2=16,968.70*1.06^4
18,031.30*1.1881=16,968.70*1.2625
21,422.98~21,422.98
Answer by richwmiller(17219)  (Show Source):
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