Question

At what rates did she invest?
$1400 invested at ____%
$900 invested at ____%

Answer 1

9514 1404 393

Answer:

• $1400 at 8%
• $900 at 10%

Step-by-step explanation:

The 1-year interest is simply the invested amount times the interest rate.

Let r represent the lower interest rate. Then r+0.02 is the higher rate, and the total interest earned is ...

  1400r + 900(r +.02) = 202

  2300r +18 = 202 . . . . . . . . . .simplify

  2300r = 184 . . . . . . . . . .subtract 18

  r = 184/2300 = 0.08 = 8% . . . . . . divide by the coefficient of r

$1400 was invested at 8%.

$900 was invested at 10%.

Answer 2

$400 invested at 8%
$900 invested at 10%