Cutting oils used in machining operations
1 answer:
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Answer:
Alvin invested $110 at rate of 7% and invested $870 at rate of 5%
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
I is the Interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem
Let
x------> the amount of money invested at rate of 5%
At rate of 7%
we have
At rate of 5%
we have
substitute in the formula
therefore
Alvin invested ($870-$760)=$110 at rate of 7%
Alvin invested $870 at rate of 5%