Marcus invested $4000 at simple annual interest, some at 5% and the rest at 8%. If he recieved $272 in interest for one year, how much did he invest at each rate?
Please explain this question so that an eighth grader can understand it... thanx! :)
2006-09-12 14:57:33 · 4 answers · asked by sonia 1 in Science & Mathematics ➔ Mathematics
You just need to write the formula. Assume that x is the amount invested at 5% then 4000-x is the amount invested at 8% and then
.05x + .08(4000-x) = 272
Solve for x to get the amount invested at 5%. You can do it!
2006-09-12 15:06:03 · answer #1 · answered by rscanner 6 · 0⤊ 0⤋
Well, first of all, you should be doing your own homework instead of asking for answers on Yahoo.
But for all your purposes, you have a scenario where $272 is the result of 0.05*(4000-x) + 0.08*(x). So 272 = 0.05*(4000-x) + 0.08*(x)
In the end $1600 is invested at 5% and 2400 is invested at 8%.
2006-09-12 22:06:19 · answer #2 · answered by ? 2 · 0⤊ 0⤋
$3400 in the 8% and $596 in the 5%
($3400 x 8% = $272)
2006-09-12 22:02:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
?
2006-09-12 21:59:22 · answer #4 · answered by sexyhottie 2 · 0⤊ 0⤋