Problema Solution
Carla invested $23,000 dollars half at 16% and the rest at 15% if the total intrest at the end of the year is $3,500 how much did she invest at 16%?
Answer provided by our tutors
let 'x' represent the amount invested at 16%, then '23000-x' represents the amount invested at 15%
interest = principal * rate * time
we assume time to be equal to 1 year
3500 = 0.16x + 0.15(23000-x)
solving for 'x' we have x=5000
23000-5000 = 18000
Carla invested $5,000 at 16% and $18,000 at 15%
the problem statement appears to indicate that half of $23,000 was invested at 16% but we assume that to be a typo, otherwise the math simply would not work out