Answer: Its B
Step-by-step explanation:
I did this test and got it right
Answer:
$4000 was invested at 4%, 2500 was invested at 3%
Step-by-step explanation:
First and foremost the question has to be define.
Total amount raised is $6500
Savings account percentage simple interest =3%
Government Bond: 4% simple interest
Equation for amount invested at each rate:
(6500-x)0.03 + 0.04x = 235
195 - 0.03x + 0.04x = 235
0.01x = 40
x = 4000
$4000 was invested at 4%, 2500 was invested at 3%
