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25 February, 06:14

Larry Mitchell invested part of his $34,000 advance at 2% annual simple interest and the rest at 3% annual interest. If his total yearly interest from both accounts was $190, find the amount invested at each rate.

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  1. 25 February, 08:22
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    Answer:let the invstmt be X and Y

    X+Y=34000

    0.02X+0.03Y=890

    0.02 (34000-Y) + 0.03Y=890

    680-0.02Y+0.03Y=890

    0.01Y=210

    Y=21000

    X=13000
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