Problema Solution
Nico is saving money for his college education. He invests some money at 7% and $900 less than that amount at 4%. The investsments produce a total of $162 intrest in 1 year. How much did Nico invest at each rate?
Answer provided by our tutors
let he invest in 7% = $x
interest = 7x/100
invest in 4% = $(x-900)
interest = 4(x-900)/100
total = (11x - 3600)/100
=> 11x/100 -36 = 162
=> 11x/100 = 198
=> x = 1800
invest in 7% =$1800
invest in 4% = $900