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 ye ar was $46.00, how many was invested at 7%
2 answers:
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:
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
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