Problema Solution
Tina invested $600, part at 8% interest per year, and the rest at 12% interest per year. At the end of the year, the total interest was $56. How much did she invest at each rate?
Answer provided by our tutors
.08x + .12(600 - x) = 56
.08x + 72 - .12x = 56
-.04x + 72 = 56
-.04x = -16
x = 400
Therefore, she invested $400 at 8% and $200 at 12%.