Question

Nico is saving money for his college education. He invests some money at 6%, and 1200 less than that amount at 5%. The investments produced a total of 160 interest in a year. How much did he invest at each rate?

Answer 1

@cwrw238 Can you please help me with this question

Answer 2

Let \(x\) be the amount he invested for the first one.
The second one he invested \(x-1200\).

Answer 3

\[
x\times(100\%+6\%) + (x-1200)\times(100\%+5\%) = 160
\]

Answer 4

You have to simplify this and solve for \(x\).