Problema Solution
vince invested $24,000 for one year, part at 10% and part at 8%. If he earned a total of $2280, how much was invested at each rate?
Answer provided by our tutors
let part invested at 10% = x
Other part = 24000-x
10% of x + 8% of (24000-x) = 2280
0.1x + 0.08(24000-x)=2280
0.1x+1920-0.08x=2280
0.02x=360
x=18000
Money invested at 10% = $18000
Money invested at 8% = 24000-18000 = $6000