SOLUTION: Can someone help me to workout and answer this word problem? Lynn invests $800 at a certain interest rate and $2000 at a rate that is 4% higher. She earned $146 more in annual inte

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Can someone help me to workout and answer this word problem? Lynn invests $800 at a certain interest rate and $2000 at a rate that is 4% higher. She earned $146 more in annual inte      Log On


   

Question 714260: Can someone help me to workout and answer this word problem? Lynn invests $800 at a certain interest rate and $2000 at a rate that is 4% higher. She earned $146 more in annual interest on the larger investment than on the smaller one. Find each interest rate expressed as a percent.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +r+ = the rate for the $800 investment
+r+%2B+.04+ = the rate for the $2,000 investment
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given:
+2000%2A%28+r+%2B+.04+%29+=+800r+%2B+146+
+2000r+%2B+80+=+800r+%2B+146+
+1200r+=+146+-+80+
+1200r+=+66+
+r+=+.055+
+r+%2B+.04+=+.095+
The rate for the $800 investment is 5.5%
The rate for the $2,000 investment is 9.5%