Question 84899: Investing her bonus: Donna invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned 4% and remainder 2.25%, then how much did she invest at each rate?
I need to solve this using a linear equation.
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! A $33,000 bonus and received a total of $970 in interest after one year
:
If part of the money returned 4% and remainder 2.25%, then how much did she invest at each rate?
:
Let x = amt invested at 4%
Then:
(33000-x) = amt invested at 2.25%
:
Interest on 4% amt + interest on 2.25% amt given as $970
.04x + .0225(33000 - x) = 970
:
.04x + 742.5 - .0225x = 970; multiplied what's inside the bracket
.04x - .0225x = 970 - 742.5
.0175x = 227.5
x = 227.5/.0175
x = $13,000 invested at 4%
:
Obviously then $20,000 in vested 2.25%
:
:
Check solutions:
.04(13000) + .0225(20000) =
520 + 450 = 970
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