Problema Solution
Maribel invested 100,000,part at 6% annual interest and the rest at 8% annual interest. If she received 6,800 in interest at the end of the year, how much did she invest at each rate?
Answer provided by our tutors
let 'x' represent the amount invested at 6%, then '100000-x' represents the amount invested at 8%
6800 = 0.06x + 0.08(100000-x)
solving for 'x' we have x=60000
100000-60000 = 40000
$60,000 was invested at 6% and $40,000 was invested at 8%