Problema Solution

nico is saving money for college he invests some money at 7% and $1200 less than that amount at 6 % the investment produced a total of $214 interest in 1 year how much did he invest at each rate

Answer provided by our tutors

nico is saving money for college he invests some money at 7% and $1200 less than that amount at 6 % the investment produced a total of $214 interest in 1 year how much did he invest at each rate

let x - invested money

.07x + .06(x-1200) = 214

.07x + .06x - 72 = 214

.13x = 286

x = $ 2200