Question

Nico is saving money for his college education. He invests some money at 6​%, and ​$1600 less than that amount at 4%. The investments produced a total of ​$166 interest in 1 yr. How much did he invest at each​ rate?

He invested ​$___ at 6​% and ​$___ at 4​%.

Answer 1

Answer: Nico invested $10,

800 at 6% and $9,200 at 4%. He invested more at 6% because he earned $166 in interest, and 6% produces more interest than 4%.