Problema Solution
Jennifer Seigal invested some money at 4.5% simple interestand $1000 less than twice this amount at 3%. Her total income from the interest was $1020. How much was invested at each rate ?
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Jennifer Seigal invested some money at 4.5% simple interestand $1000 less than twice this amount at 3%. Her total income from the interest was $1020. How much was invested at each rate ?
Solution:
Investment at 4.5%: x
Investment at 3%: 2x-1000
So
4.5%*x+3%(2x-1000)=1020
So
x = 10000
So
Investment at 4.5%: $10,000
Investment at 3%: $19,000