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Mathematics 25 Online
OpenStudy (pphalke):

nico is saving money for his college education. he invests some money at 6% and $1900 less than the amount at 5%. the investments produced a total of $191 interest in 1 yr. how much did he invest at each rate? please help someone please help me do this in the easy way i can understand plz

OpenStudy (mathmale):

You posted this question earlier and I gave you considerable feedback on it. I asked you to use letters to represent your unknowns. That's one of the first concepts you're exposed to in an Algebra course. Let x=amount of money invested at 6% interest. Let x-1900 = amount of money invested at 5% interest. How much interest would x dollars produce in 1 year at 6% interest? Note that interest = i = p r t, where i is the interest earned, p is the principal amount invested, r is the annual interest rate as a decimal fraction, and t is the number of years. Amount of interest earned on x dollars at 6% interest over 1 year is ... what? Show all of your work (calculations).

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