Linear Equations Word Problems

Question

Nico is saving money for his college education. He invests some money at 9%, and $2000 less than that amount at 7%. The investments produced a total of $276 interest in 1 year. How much did he invest at each rate?

Answer 1

0.09X + 0.07(X-2000) = 276

0.09X + 0.07X - 140 = 276

0.16X = 416

X = 2600

Invested 2600 at 9% ----> 234

invested 600 at 7% ----> 42

$3200 total + $276 interest = $3476