SOLUTION: Ron invested a total of $7,100, part at 5% simple interest and part 4% interest. At the end of one year, the investments had earned $316 interest. How much was invested at each rat

Algebra ->  Finance -> SOLUTION: Ron invested a total of $7,100, part at 5% simple interest and part 4% interest. At the end of one year, the investments had earned $316 interest. How much was invested at each rat      Log On


   

Question 657758: Ron invested a total of $7,100, part at 5% simple interest and part 4% interest. At the end of one year, the investments had earned $316 interest. How much was invested at each rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
0.05x+0.04(7100-x)=316
0.05x+284-0.04x=316
0.01x=316-284
0.01x=32
x=32/0.01
x=3200 at 5%
7100-3200=3900 at 4%