Question 788944: Tran has $10000 to invest. She invested part of it in a term deposit paying 4% per annum and the remainder in bonds paying 5% per annum. If the total interest after 1 year was $440, how much did she invest at each rate?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Tran has $10000 to invest. She invested part of it in a term deposit paying 4% per annum and the remainder in bonds paying 5% per annum. If the total interest after 1 year was $440, how much did she invest at each rate?
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Using one variable:
Equation:
interest + Interest = interest
0.04x + 0.05(10,000-x) = 440
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4x + 50,000 - 5x = 44000
-x = 6000
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x = $6000 (amt. invested at 4%)
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10,000-x = $4000 (amt. invested at 5%)
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Cheers,
Stan H.
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