Question

Nico is saving money for his college education. He invests some money at 9​%, and ​$1700 less than that amount at 8% The investments produced a total of ​$306 interest in 1 yr. How much did he invest at each​ rate?

Answer 1

$2600 at 9% and $900 at 8%

Explanation:

Convert world problem to algebra:

(x*1.09)+((x-1700)*1.08) = (2x-1700)+306

Solve problem:

1.08 (x - 1700) + 1.09 x = 2 x - 1394

x=2600

first value is x (2600) and second value is 1700 less than x so its x-1700 (2600-1700=900)