Question

Help please :
A total of $18,000 is invested at 3.25% and 2% simple interest. If yearly interest is $465, how much of the $18,000 is invested at each rate?

Answer 1

Let a be the amount invested at 3.25% and let b be the amount invested at 2%.
Now we can form two equations as follows:
a + b = 18000 ....................(1)
0.0325a + 0.02b = 465 ......(2)
You can find b by subtracting a from both sides of (1) giving:
b = 18000 - a .....................(3)
If you plug the value of b given in (3) into (2) you can solve to find a.
Can you do that?

Answer 2

yea im think im getting it

Answer 3

so pretty much
.0325a+0.02b=465
a+b=18000
and use elimination

Answer 4

If you substitute the value for b given in (3) into (2) you get the following:
0.0325a + (0.02 * 18000) -0.02a = 465 ...........(4)
Now can you solve equation (4) to find the value of a?

Answer 5

uhm yea i got it a=8400

Answer 6

thanks for your help :D

Answer 7

greatly appreciated<3

Answer 8

Your result for a is correct. Good work :)