Question

Miss Parker invested a certain amount of money at 9.2% interest and another amount, $700 more than the first, at 10.4%. If the total annual interest is $425.60, how much money is in each investment

Answer 1

Answer:

$1800 and $2500

Step-by-step explanation:

Let he invested a total of  $P and$( P+700) in each investment so according to question

9.2*P*1+10.4*(P+700)*1= 42560

19.6P+ 7280= 42560

19.6P = 42560-7280= 35280

P=$ 1800

So, he invested $1800 and $2500 respectively.