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Mathematics

Answered

A total of $5000 is invested: part at 7 % and the remainder at 15 %. How much is invested at each rate if
the annual interest is $480?

Answer :

Aliwohaish12go Aliwohaish12go

0.07 (5000-x) + 0.15x= 480
Solve for x
350-0.07x+0.15x=480
0.08x=130
X=1625 invested at 15%
(5000-1625)=3375 invested at 7%

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