Asked by sukh
(13) Dan invested a total of 12, 000. He invested some of that money at 3%
and some at 5%. After one year, he earned a total of 460 in interest.
How much did Dan invest at each rate of interest?
and some at 5%. After one year, he earned a total of 460 in interest.
How much did Dan invest at each rate of interest?
Answers
Answered by
Steve
If x is at 3%, then the rest (12000-x) is at 5%. So, add up the interest:
.03x + .05(12000-x) = 460
.03x + .05(12000-x) = 460
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