Problema Solution
rachel invests some money at 4% and invests three times that amount at that amount of 6%. if the total annual interest is $275, how much is invested at each rate?
Answer provided by our tutors
let
x = the money invested at 4%
y = the money invested at 6%
Rachel invests some money at 4% and invests three times that amount at that amount of 6%
y = 3x
the total annual interest is $275
0.04x + 0.06y = 275
by solving the system of equations
y = 3x
0.04x + 0.06y = 275
we find
x = $1,250
y = $3,750
click here to see the step by step solution of the system of equations
$1,250 are invested at 4%.
$3,750 are invested at 6%.