Question

In investing $5,400 of a couple's money... How much money was invested at each rate?

A) $2,000 at 3%, $3,400 at 11%
B) $2,400 at 3%, $3,000 at 11%
C) $2,800 at 3%, $2,600 at 11%
D) $3,200 at 3%, $2,200 at 11%

Answer 1

To determine how much money was invested at each rate, let’s break it down:

Let x represent the amount invested at 3%.

The remaining amount, which is $5,400 - x, was invested at 11%.

Now, we can set up the equation based on the total investment:

[ x + (5,400 - x) = 5,400 ]

Solving for x: [ x + 5,400 - x = 5,400 ] [ 5,400 = 5,400 ]

Since the equation holds true, we can proceed to find the specific amounts:

Amount invested at 3%: [ x = 2,000 ]

Amount invested at 11%: [ 5,400 - x = 5,400 - 2,000 = 3,400 ]

Therefore, the correct answer is A) $2,000 at 3%, $3,400 at 11%.

Answer 2

To determine how much money was invested at each rate, set up a system of equations and solve.

Step-by-step explanation:

To determine how much money was invested at each rate, we can set up a system of equations based on the given information.

Let's assume that x represents the amount of money invested at 3% and y represents the amount of money invested at 11%.

From the first option, we have the following equation:

x + y = 5400

From the second option, we have the following equation:

0.03x + 0.11y = 5400

Solving this system of equations, we find that option C) $2,800 at 3%, $2,600 at 11% is the correct answer.