SOLUTION: Erica earned $12,000 last year. He invested part of her money at 3% and the rest at 4% single interest. In one year she earned $440.00 in interest. How much did she invest at each
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Question 439570: Erica earned $12,000 last year. He invested part of her money at 3% and the rest at 4% single interest. In one year she earned $440.00 in interest. How much did she invest at each rate Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 3% interest
Let = amount invested @ 4% interest
given:
(1)
(2)
-------------------
(2)
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
$4,000 = amount invested @ 3% interest
$8,000 = amount invested @ 4% interest
check answer:
(2)
(2)
OK
