A man invests $5,200, part at 4% and the balance at 3%. If his total income for the two investments is $194, how much money did he invest at each rate?

Question

tkhunny · Answer

Please name the two amounts so that we can talk about them.

anonymous · Answer

does it say anything else about the problem? like a time?

mathstudent55 · Answer

I say keep it simple and make the followinmg assumption:
The money was invested for 1 year at simple interest.

tkhunny · Answer

It is not a matter of "keep it simple".  It is a matter of making some sort of definition in order to solve the problem.  "One Year" is as good an assumption as any - probably simpler than most.

anonymous · Answer

If we use the simple interest formula and what we know about the problem:

Simple interest formula $$I=p*i*t$$

and we know that $$194=I _{1}+I _{2}$$ and assuming 1 year

$$I _{1}=p _{1}*.04*1$$
$$I _{2}=p _{2}*.03*1$$
$$194=.04p _{1}+.03p _{2}$$

probably made it to complicated but i am out of time at the moment here is what i have so far

anonymous · Answer

and $$p _{1}+p _{2}=5200$$