SOLUTION: A man invested in $4000, part at 5% and the remainder at 3% simple interest. The total income is $168. How much does he invest at each Rate?

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Question 954462: A man invested in $4000, part at 5% and the remainder at 3% simple interest. The total income is $168. How much does he invest at each Rate?
Answer by macston(5194) About Me  (Show Source):
You can put this solution on YOUR website!
F=amount at 5%; T=amount at 3%
F+T=$4000
T=$4000-F
0.05F+0.03T=$168 Substitute for T.
0.05F+0.03($4000-F)=$168
0.05F+$120-0.03F=$168 Subtract $120 from each side.
0.02F=$48
F=$2400 ANSWER 1: He invests $2400 at 5%.
T=$4000-F=$4000-$2400=$1600 ANSWER 2: He invested $1600 at 3%.
CHECK:
0.05F+0.03T=$168
0.05($2400)+0.03($1600)=$168
$120+$48=$168
$168=$168