Problema Solution
Nico is saving money for his college education. He invests some money at 8% and %1200 less than that amount at 7%. The investments produced a total $231 interest in 1 year. How much did he invest at each rate?
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Answer:
x=$ 2180 at 7%
x=$980 at 8%
Solution:
equation:
0.08(x-1200)+0.07(x)=231
Solving for x:
x=$ 2180 at 7%
x=$980 at 8%