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April invests $30,000, part at 6.5% annual interest and the balance at 4.2% annual interest. How much is invested at each rate if April receives a 1-year interest payment of $1662.50?

Respuesta :

mhanifa

Answer:

  • $17500 at 6.5% and $12500 at 4.2%

Step-by-step explanation:

Given

  • Let x be the amount invested at 6.5%
  • Then (30000 - x) is invested at 4.2%

The equation for the interest:

  • x*6.5/100 + (30000 - x)*4.2/100 = 1662.50
  • 0.065x + 1260 - 0.042x = 1662.50
  • 0.023x = 1662.50 - 1260
  • 0.023x = 402.5
  • x = 402.5/0.023
  • x = 17500

So $17500 invested at 6.5% and $12500 at 4.2%

Answer:

yes

Step-by-step explanation:

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