Question 1049110
Let x be the interest rate for the 20,000 and y for the 16,000
The problem says:
x20,000 = y16,000+380 (1)
and
x = y+0.003 Substitute this value for x on equation (1)
>>>>>>>> >>>>>>>>>> >>>>>>>>>
(y+0.003)20,000 = y16,000+380
20,000y+60 = y16,000+380
4,000y = 320
y = 0.08 So the 16,000 are invested at 8%
And since x = y+0.003:
x = .08+0.003 = 0.083 or 8.3%. The 20,000 are invested at 8.3%
:
John