Respuesta :
Answer:
At 6%, $2,100 invested, at 3%, $800 invested
Step-by-step explanation:
In this question, we are asked to calculate the amount of money which was invested at two different rates given the interest accursed at both rates.
Since we do not know the amount of money invested, we can say let the amount of money invested be x.
Now, generally the formula for simple interest stands at;
I = PRT/100, with our time being 1 year, there is no difference with just multiplying the principal by the rate.
At 6%, he invested $x.
Mathematically the interest here would be;
6/100 * x = 6x/100
At 3%, amount invested is 1300 less than x, meaning x-1300
Interest here is 3/100 * (x-1300)
Adding both interests will give a total of 150.
Hence;
6x/100 + 3(x-1300)/100 = 150
Let’s now solve for x
(6x + 3x -3900)/100 = 150
9x -3900 = 15000
9x = 15000 + 3900
9x = 18,900
x = 18,900/9
x = $2,100
At 6%, $2,100 invested, at 3%, $800 invested
Answer:
2100 at 6% and 800 at 3%
Step-by-step explanation:
Let's call the amount of money Nico invests at 6% X, so the amount he invests at 3% will be (X-1300).
if the total interest produced is 150 in one year, we can formulate the following equation:
0.06*X + 0.03*(X-1300) = 150
0.06*X + 0.03*X - 39 = 150
0.09*X = 189
X = 189/0.09 = 2100
The second investment is X - 1300 = 800
Nico invested 2100 at 6% and 800 at 3%
