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3 years ago

Olcquations

Mathematics

1 answer:

zaharov [31]3 years ago

8 0

Answer:

$600 at 8%
$2400 at 3%

Step-by-step explanation:

You have the right numbers, but the wrong accounts.

Let x represent the amount invested at 8% (the highest rate). Then the total interest is ...

.08x +.03(3000 -x) = .04(3000)

.05x = .01(3000) . . . . subtract .03(3000)

x = 3000/5 = 600

Matthew invested $600 at 8%, $2400 at 3%.

_____

<em>Comment on checking your answer</em>

You may notice that the overall interest rate is 4%, closer to 3% than to 8%. That means more of the money must be invested at 3% than at 8%.

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