Problema Solution
Carla invested $23,000 part at 16% and 15% if the total interest at the end of the year is $3,500 how much did she invest at 16%?
Answer provided by our tutors
From the given information, we can write:
.16(x)+.15(23000-x)=3500
Were 'x' and '23000-x' are the amounts invested at 16% and 15%. Solving for x, we get:
x=5000
therefore
23000-5000=18000
Therefore $5,000 was invested at 16% and $18,000 was invested at 15%.