Question 1096643
10% certificate:
Principal = p
Rate = 0.10
Interest = 0.10p
<pr>
6% passbook:
Principal = 2000 - p
Rate = 0.06
Interest = 0.06(2000 - p) = 120 - 0.06p
<pr>
Total interest:
<pr>
0.10p + (120 - 0.06p) = 180
<pr>
Simplify:
<pr>
0.04p = 60
<pr>
Solve for p:
<pr>
p = 1500
<pr>
From earlier:
<pr>
6% passbook:
Principal = 2000 - p = 2000 - 1500 = 500
<pr>
Carlos invested $500 at 6%.