Q: 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?

A: Interest = Investment * Rate
X = amount invested at 4%
$5,200 - X = amount invested at 3%
194 = 0.04X + 0.03(5,200 - X)
194 = 0.04X + 156 - 0.03X
38 = 0.01X
X = 3800
Answer:
$3,800 is invested at 4% and $1200 is invested at 3%
Check:
$3,800 * 4% = [ $152
$1,200 * 3% = $36
$152 + $36 = $192 ]

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Asked 3/18/2013 8:36:28 PM

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