What is the interest on $3,500 borrowed for two years at 2.5% interest?
1 answer:
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Answer:
Amount invested at 8% is $9000 and amount invested at 18% is $21000.
Step-by-step explanation:
Let amount invested at 8% be x.
Let amount invested at 18% be y.
We get the 1st equation as:
........(1)
We get the second equation as:
=>
or getting rid of the decimal by multiplying by 100 on both sides.
........(2)
Multiplying (1) by 8 and subtracting from (2) we get
So, y = 21000
And
So, x = 9000
Therefore, amount invested at 8% is $9000 and amount invested at 18% is $21000.
Answer:
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