Problema Solution
$2372 is invested, part at 12% the rest at 9%. If the interest from the amount invested at 12% exceeds the interest earned from the amount at 9% by $66.24. How much is invested at each rate?
Answer provided by our tutors
let
x = the money invested at 12%
y = the money invested at 9%
$2372 is invested, part at 12% the rest at 9%:
x + y = 2372
the interest from the amount invested at 12% exceeds the interest earned from the amount at 9% by $66.24:
x = y + 66.24
by solving the system of equations:
x + y = 2372
x = y + 66.24
we find:
x = $1,219.12
y = $1,152.88
click here to see the step by step solution of the system of equations:
$1,219.12 were invested at 12% and $1,152.88 were invested at 9%.