Question

Of a total of 6,000.00, part was invested at a simple interest rate of 8% and part at 7% if the total interest income for one year was $46.00, how many was invested at 7%

Answer 1

Answer: Ok so first 0.05(6000 - x) + 0.07x = 372

300 - 0.05x + 0.07x = 372

300 + 0.02x = 372

0.02x = 72

x = 3600

He invested $3600 at 7% and $2400 at 5%.

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Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation:

I think you had a typo where interest should be 460 not 46 because even if the whole 6000 were invested at 7% he would have earned $420 in interest. Also if total investment was switched from 6000 to 600 the 46 in interest would work.

.07x+.08(6000-x)=460

.07x-.08x+480=460

-.01x+480=460

-.01x=-20

x=$2000

which is easy enough to check

2000(.07)+4000(.08)=$460