Ron invested a total of $5,200.00, part at 5.5% simple interest and part 4.5% interest. At the end of one...

Question

Ron invested a total of $5,200.00, part at 5.5% simple interest and part 4.5% interest. At the end of one year, the investments had earned $267.00 interest. How much was invested at each rate?
Amount invested at 5.5%:
Amount invested at 4.5%:

SnapAndSolve AI · Accepted Answer

Let x be the amount invested at 5.5%, and y be the amount invested at 4.5%.

Equation 1: x + y = 5200
Equation 2: 0.055x + 0.045y = 267

Solving these equations:

From Equation 1: y = 5200 - x
Substitute into Equation 2: 0.055x + 0.045(5200 - x) = 267
0.055x + 234 - 0.045x = 267
0.01x = 33
x = 3300
y = 5200 - 3300 = 1900

Amount invested at 5.5%: $3300

Amount invested at 4.5%: $1900

contact us

Contact Info

Ron invested a total of $5,200.00, part at 5.5% simple interest and part 4.5% interest. At the end of one...

Answer

Have a similar question?

More math questions