Problema Solution
mike invested 199 for one year he invested part of it at 5% and the rest at 7% at the end of the year he earned 10.75 in interest how much did mike invest at at each rate of interest
Answer provided by our tutors
Solution: we assume the 5% invest is x and 7% invest is y. so the equation is below: x + y = 199 5%*x +7%*y = 10.75 we solve it x = 159 y = 40 so he invested $159 in 5% and $40 in 7%