Problema Solution
A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate?
Answer provided by our tutors
let
x = amount invested at 4%
y = amount invested at 3%
x + y = 5200
y = 5200 - x
Interest = Investment * Rate
194 = 0.04x + 0.03y
194 = 0.04x + 0.03(5,200 - x)
194 = 0.04x + 156 - 0.03x
38 = 0.01x
x = $3,800
y = 5200 - 3800
y = $1,200
$3,800 is invested at 4% and $1,200 is invested at 3%.