Question

Last year, Ivan had $20,000 to invest. He invested some of it in an acount that paid 9% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of $1780 in interest. How much did he invest into each account?

Answer 1

amount invested at 9% --- x
amount invested at 7% --- 20000-x

.09x + .07(20000-x) = 1780

solve for x

Answer 2

Milan bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $350 less than the desktop. He paid for the computers using two different finance plans. For the desktop the interest rate was 7% per year, and for the laptop it was 9.5% per year. The total finance charges for one year were $305. How much did each comupter cost before finance charges?

Answer 3

1200

Answer 4

269.3