04-12-2014
Mathematics

Answered

Carlos invested part of $3,000 in a 10% certificate account and the rest in a 6% passbook account. The total annual interest from both accounts is $270. How much did he invest at 6%?

Verified Answer :

04-12-2014

(3000-n)(10/100)+n(6/100) = 270
300 - 0.1n + 0.06n = 270
300 - (0.1n - 0.6n) = 270
300 - 0.04n = 270
-0.04n = -30
n = -30/-0.04 = 750
Investment at 6% = 750
Investment at 10% = 3000 - 750 = 2250
And to check just plug it back in so,
(0.06750)+(0.12250) = 270

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