Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Susan invests twice as much money at 7.5% as she does at 6%. If her total interest after a year is $840 how much does she have invested at each rate?

Sagot :


Let x be the amount invested at 6%

840 = 0.06x + 0.075(2x)
840 = 0.06x + 0.15x
840 = 0.21x
x = 840/0.21
x = 4000

Therefore, she invests $4000 at 6% and $8000 at 7.5%