Question

Nancy invested a sum of money at 6%. Then she invested a second sum, $500 dollars more than her first, at 8%. The total interest earned for the year was $180. How much money fid nancy invest at each rate?

Answer 1

180 = 0.06x + 0.08(x+500) 180 = 0.06x + 0.08x + 40 140 = 0.14x x=1000 $1000*.06 = $60 $1500*.08 = $120 $60+$120=$180 $1000 at 6% $1500 at 8%