SOLUTION: mrs. Rosario invested part of Php35,000 in a bank paying 9% interest for 2 years and the balance in another bank paying 6% interest for 4 years. it turns out that the two investmne
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Question 931585: mrs. Rosario invested part of Php35,000 in a bank paying 9% interest for 2 years and the balance in another bank paying 6% interest for 4 years. it turns out that the two investmnets earned equal interst. how much was invested at each rate?
You can put this solution on YOUR website! Let x = amount invested at 9%
y = amount invested at 6%
mrs. Rosario invested part of Php35,000 in a bank paying 9% interest for 2 years and the balance in another bank paying 6% interest for 4 years.
x+y=35000
x=35000-y
It turns out that the two investments earned equal interest.
I=Prt
(.09)(2)(x)=(.06)(4)(y)
.18x=.24y
.18(3500-y)=.24y
6300-.18y=.24y
6300=.42y
15000=y
20000=x
Mrs. Rosario invested Php20000 at 9% and Php15000 at 6%.
