Question

Nico is saving money for his college education. He invests some money at 8%, and $1900 less than that amount at 7%. The investments produced a total of $257 interest in 1 yr. How much did he invest at each rate?

Answer 1

0.08*x + (x-1900)*0.07 = 257

0.15 x - 133 = 257
0.15x = 390

x=2600

2600*0.08+700*0.07 = 257. Correct

Answer 2

So the money invested at 8% is 2600, and at 7% is 700.