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simple interest

i need to make sure i set this up correct
 
nico is saving money for his college education, he invest some money at 6% and 1300 less than that amount at 5% the investment produced a total of 144 interest in 1 year how much did he invest at each rate
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2 Answers

Hi Brent
 
Let I be the amount of money invested, then we can calculate the interest using the information given
 
Ix(.06) +(I-1300)x.05 = 144 so we have .06I + .05I -65 =144, solving for I gives I = 1900.
 
Interest from the first investment =.06x $1900=$114
Interest from the 2nd investment = .05($1900-$1300)= $30 and together they add to $114 + $30 =$144.
 
Regards
Jim S
 
 X - amount invest in 6%
 
 X - 1300 - amount invests in 5 %
 
  X ( 0.06 ) + ( X - 1300) 0.05 = 144
 
    X ( 0.06 + 0.05) = 1300 * .05 + 144
 
     X ( 0.11) = 209
 
    X = 209/ 0.11 = $1900  / invested in 6%
 
    $ 1900 - 1300 = $ 600 / invested in 5%