Question

Bob invested $25,000, part at 2% and part at 9%. If the total interest at the end of the year is $1,060, how much did he invest at 2%?


A) $8,000
B) $18,000
C) $17,000
D) $16,000

Answer 1

Take a look at this question posted down below:
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Posted by Anonymous on Saturday, December 8, 2007 at 6:55pm.

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%?

For Further Reading

* math - Damon, Saturday, December 8, 2007 at 7:18pm

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

* math - drwls, Saturday, December 8, 2007 at 7:21pm

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.