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Question 397886: Investing her bonus. Donna invested her $33,000 bonus
and received a total of $970 in interest after one year. If
part of the money returned 4% and the remainder 2.25%,
then how much did she invest at each rate?
Please show each step and explain what you did.. Thank you soooo much!
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Investing her bonus. Donna invested her $33,000 bonus
and received a total of $970 in interest after one year. If
part of the money returned 4% and the remainder 2.25%,
then how much did she invest at each rate?
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Quantity Eq: x + y = 33000 dollars
Interest Eq:0.04x + 0.025y = 970 dollars
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Multiply thru Quantity Eq. by 4.
Multiply thru Interest Eq. by 100.
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4x + 4y = 4*33000
4x + 2.5y = 97000
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Subtract the bottom from the top and solve for "y":
1.5y = 35000
y = $23,333.33 (amt. invested at 2.25%)
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Solve for "x":
x+y = 33000
x + 23,333.33 = 33000
x = $9666.66 (amt. invested at 4%)
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cheers,
Stan H.
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