Different Interest Rates. Mrs. Brighton invested $30,000 and received a total of $2300 in interest. If she invested part of the money at 10% and the remainder at 5%, then how much did she invest at each rate?

Question

Different Interest Rates.  Mrs. Brighton invested $30,000 and received a total of $2300 in interest. If she invested part of the money at 10% and the remainder at 5%, then how much did she invest at each rate?

Shaun · Answer

$30,000 Total She invested $16,000 x .10 = $1600 She invested $14,000 x .05% = $700 $1600 +$700 = $2300