Question

An investment at an annual rate of 4% earns $34 less than an investment at an annual rate of 3%. Find the two investments if the total amount invested is $9,300.

A. $6,000 at 3%; $3,300 at 4%
B. $6,000 at 4%; $3,300 at 3%
C. $6,167 at 3%; $3,133 at 4%
D. $6,167 at 4%; $3,133 at 3%

Answer 1

The two investments are $6,167 at 3% and $3,133 at 4%.

Step-by-step explanation:

To find the two investments, let's assume the amount invested at 3% is x and the amount invested at 4% is y.

The total amount invested is $9,300, so x + y = 9300.

According to the problem description, the investment at 4% earns $34 less than the investment at 3%. This can be expressed as y = x - 34.

Solving these two equations, we get x = $6,167 and y = $3,133. Therefore, the two investments are $6,167 at 3% and $3,133 at 4%.