SOLUTION: Lynn Ogen invested some money at 9% interest and $100 less than that at 7% interest. Her total annual interest was $73. How much did she invest at 7% interest?
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-> SOLUTION: Lynn Ogen invested some money at 9% interest and $100 less than that at 7% interest. Her total annual interest was $73. How much did she invest at 7% interest?
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Question 85775: Lynn Ogen invested some money at 9% interest and $100 less than that at 7% interest. Her total annual interest was $73. How much did she invest at 7% interest? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Lynn Ogen invested some money at 9% interest and $100 less than that at 7% interest. Her total annual interest was $73. How much did she invest at 7% interest?
:
Let x = amt invested at 7%
Then
(x+100) = amt invested at 9%
:
Problem basically states:
interest @ 9% + interest @ 7% = $73
:
.09(x+100) + .07x = 73
.09x + 9 + .07x = 73
.16x = 73 - 9
x = 64/.16
x = $400 invested at 7%
:
:
Check:
.09(500) + .07(400) = $73
