Algebra and Trigonometry 10th Edition

Published by Cengage Learning
ISBN 10: 9781337271172
ISBN 13: 978-1-33727-117-2

Chapter 1 - 1.3 - Modeling with Linear Equations - 1.3 Exercises - Page 98: 54


$10000$ dollars at $4.5\%$ and $15000$ dollars at $3\%$.

Work Step by Step

Let $x$ be the amount invested at $4.5\%$ interest. Then the amount invested at $3\%$ interest is $25000-x$. Then our equation is: $0.045x+(25000-x)\cdot0.03=900\\0.045x+750-0.03x=900\\0.015x=150\\x=10000.$ Thus I invested $10000$ dollars at $4.5\%$ and $15000$ dollars at $3\%$.
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