Question

Stan invested $5,000, part at 8% and part at 17%. If the total interest at the end of the year is $490, how much did he invest at 8%?

Answer 1

.08 x + .17 (5,000 -x) = 490
assuming simple interest not compounded monthly or daily or anything.

Answer 2

If x was invested at 8%, 5000-x was invested at 17%.

Solve the equation
490 = 0.08x + 0.17 (5000 -x)
490 - 850 = -0.09 x
0.09x = 360
x = ?
It says that the total interest earned in two accounts, was $490.

Answer 3

Hi,

X is the amount invested not the interest so it could be greater than $490. If x was invested at 8%, 5000-x was invested at 17%.

Solve the equation
490 = 0.08x + 0.17 (5000 -x)
490 - 850 = -0.09 x
0.09x = 360
x = $4000

So the amount invested at 8% is $4000 and at 17% is $1000.

Answer 4

Hi,

X is the amount invested not the interest so it could be greater than $490. If x was invested at 8%, 5000-x was invested at 17%.

Solve the equation
490 = 0.08x + 0.17 (5000 -x)
490 - 850 = -0.09 x
0.09x = 360
x = $4000

So the amount invested at 8% is $4000 and at 17% is $1000.