Problema Solution
Alice Gleason invested a portion of $32,000 at 9% interest and the balance at 11% interest. How much did she invest at each rate if her total income from both investments was $3,200.
Answer provided by our tutors
Let she invest x dollars at 9% interest.
So she invested 32000-x dollars at 11% interest.
her total income from both investments was $3,200
so (9/100)x + (11/100)(32000-x) = 3200
9x + 352000 - 11x = 320000
-2x = 320000 - 352000
x = 32000/2 = 16000
So she invest 16000 dollars at 9% interest.
and she invested 16000 dollars at 11% interest.