amount invested at 3% --- x
intereste at that = .03x
amount invested at 5% ---- 16000 - x
interest at that = .05(16000-x)
they are equal, so
solve .03x = .05(16000 - x)
3x = 5(16000-x)
carry on
Bernie has $16000 invested, part at 3% and the remainder at 5%. If the yearly interest on each investment is the same, how much interest does he receive each year?
2 answers
suuka