Question 119799
Kermit and Miss Piggy wish to invest $5,000 ,part at 8% simple interest,and the rest at 14% simple interest. If they must earn $610 in interest by the end of one year,how much should they invest at each rate?
---------------
Let amt. invested at 14% be "x" ; interest on this is 0.14x dollars
-------------
Amt. invested at 8% is 5000-x ; interest is 0.08(5000-x)= 400-0.08x dollars
------------
EQUATION:
interest + interest = 610 dollars
0.14x + 400-0.08x = 610
0.06x = 210
x = $3500.00 (amt. to invest at 14%)
5000-x = $1500.00 (amt. to invest at 8%)
====================
Cheers,
Stan H.