Question

Donna invested 33,000 bonus an received a total of 970 in interest after one year. If part of the money returned 4% and the remainder 2.25% then how much did she invest at each rate?

Answer 1

Let `X_(4%)` be the amount invested at 4%. Then, `33000-X_(4%)` will be the amount invested at 2.25%

Explanation:

Here is the equation that will solve for `X_(4%)`

`(0.04)(X_(4%))+(0.0225)(33000-X_(4%))=970`

Now, solve for `X_(4%)`:

`X_(4%)=13000`

Amount invested at 2.25%:
`33000-X_(4%)=20000`

Hope that helped