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pkd8

I have $1000 to Invest. I Invested part of it at 8% and the part of it at 6%. IF my total simple interest is $76.00, how much did I invest for 1yr at each rate.

  • one year ago
  • one year ago

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  1. slaaibak
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    You invested $x at 8% You invested $(100-x) at 6% formula for simple interest: A = P(1+in) I believe you should be able to do it now

    • one year ago
  2. pkd8
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    ok lemmi try

    • one year ago
  3. slaaibak
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    Sorry that should be: $(1000-x) at 6% I skipped a zero there

    • one year ago
  4. theyatin
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    (1000-x)*8%+x*6%=76 solve to get x and you wil have the answer

    • one year ago
  5. pkd8
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    76=0.08x+0.06y $1000+x+y Can this also work?

    • one year ago
  6. pkd8
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    Most investment questions ask what is the interest, but this one is throwing me off cause the interest is already given.

    • one year ago
  7. theyatin
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    nope upper equation u mentiooned can work lower one can not

    • one year ago
  8. pkd8
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    ok

    • one year ago
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