Question

Nico is saving money for his college education. He invests some money at 7%, and $1500 less than that amount at 6%. The investments produced a total of $170 interest in 1 yr. How much did he invest at each rate? He invested $ at 7% and $ at 6%​

Answer 1

.07x + .06(x - $1,500) = $170

.07x + .06x - $90 = $170

.13x = $260

x = $2,000

$2,000 at 7% interest, $500 at 6% interest