Problema Solution
Gail Brown invested some money at 9% and $100.00 more than that at 6%. Her total annual interest was $96.00. How much did she invest at each rate?
Answer provided by our tutors
let
x = the money invested at 9%
x + 100.00 = the money invested at 6%
total annual interest was $96.00
0.09x + 0.06(x + 100.00) = 96.00
by solving we find
x = $600
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600 + 100.00 = $700
Gail Brown invested $600 at 9% and $700 at 6%.