Nico is saving money for his college education. He invests some money at 9%, and $1700 less than that amount at 8% The investm
ents produced a total of $306 interest in 1 yr. How much did he invest at each rate?
1 answer:
Answer:
$2600 at 9% and $900 at 8%
Step-by-step explanation:
Convert world problem to algebra:
(x*1.09)+((x-1700)*1.08) = (2x-1700)+306
Solve problem:
1.08 (x - 1700) + 1.09 x = 2 x - 1394
x=2600
first value is x (2600) and second value is 1700 less than x so its x-1700 (2600-1700=900)
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