Question 69843: 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?
Found 3 solutions by Edwin McCravy, checkley75, tutorcecilia: Answer by Edwin McCravy(20056) (Show Source):
You can put this solution on YOUR website! Angus (was he a bull? J) 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?
Let $x represent the first part, that is, the amount
invested at 3%
Now use the formula for "the rest"
æThe rest of ö æ The ö æ the ö
ça total amount÷ = çtotal ÷ - çfirst÷
çbesides the ÷ èamountø è partø
èfirst part ø
So the rest of the $18000 besides the $x
is = ($18000 - $x)
This amount (the rest besides the $x) was invested
at 5%.
So we have x dollars invested at 3%
and (18000 - x) dollars invested at 5%
The interest on the x dollars is .03x dollars.
The interest on the (18000 - x) dollars is
.05(18000 - x)
We read:
>>...the total interest at the end of the year
is $660...<<
|Interest | |Interest|
| on | | on |
| the | + | the | = $660
|x dollars| |18000-x |
|dollars |
.03x + .05(18000-x) = 660
Can you solve that? If not post again asking how.
You get x = $12000, which is the amount invested
at 3%.
To get the rest, which was invested at 5%, subtract
that $12000 from the total, $18000, and get $6000,
the amount invested at 5%.
Edwin
Answer by checkley75(3666) (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 INVESTED AT 5% THUS
18000-6000=12000 INVESTED AT 3%
PROOF
.05*6000+.03*12000=660
300+360=660
660=660
Answer by tutorcecilia(2152) (Show Source):
You can put this solution on YOUR website! $x+$y=$18,000
or x+(18,000-x)=18,000
.
.03x+.05(18,000-x)=660 because:
$x invested at 3% + $y invested at 5%=A total of $660 in interest.
.
.
Simplify
.03x+.05(18,000-x)=660
.03x+900-.05x=660
.03x+900-900-.05x=660-900
.03x-.05x=-240
-.02=-240
-.02x/-.02=-240/-.02
x=12,000
.
Plugging x=$12,000 back into the original equation:
.03x+.05(18,000-x)=660
.03(12,000)+.05(18,000-12,000)=660
360+ .05(6,000)=660
360+300=660
660=660 checks out
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