Question

geoff has $5000 to invest. he wants to earn $568 in interest in one year. he will invest part of the money at 12% and the other part at 10%. how will he invest to earn $568.

Answer 1

5000 = x + y

5000 - x = y

0.1x + 0.12y = 568

0.1x + 0.12(5000 - x) = 568

0.1x + 600 - 0.12x = 568

600 - 568 = 0.12x - 0.1x

32 = 0.02x

32 / 0.02 = 0.02x / 0.02

x = 1600

0.1x + 0.12y = 568

0.1(1600) + 0.12y = 568

160 + 0.12y = 568

0.12y = 568 - 160

0.12y = 408

0.12y / 0.12 = 408 / 0.12

y = 3400

so Geoff should invest

$3400 at 12%
and
$1600 at 10%

$3400 at 12% = $408
$1600 at 10% = $160

408 + 160 = $568 earned in a year

dont forget to click good answer :)

Answer 2

thnx

Answer 3

your welcome