Investing her bonus. Melanie invested her $33,000 bonus and received a total of $970 in interest after one year. If part of the money returned 4% and the remainder 2.25%, then how much did she invest at each rate?
Teacher:
Minus 1 for no problem setup.
My answer:
I= $970.00 Interest
P= $33,000.00 Bonus
Equation: I = x(.04) + (P-x)(.0225)
The amount invested at 4%, while P-x is the money she invested at 2.25%.
$970 = x(.04) + 742.5 - .0225x
970 = .04x + 742.5 - .0225x
227.5 = .0175x
x=$13,000.00
Melanie invested $13000 at 4%, and
$33000-$13000=$20000 at 2.25%
Teacher:
Minus 1 for no solution checks.
Don't get how to put that into a solution check
Solution check?
2006-09-27
18:02:37
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1 answers
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SCHNITZEL
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Science & Mathematics
➔ Mathematics