Question

The combined yearly interest for x dollars invested at 13% and 20,000-x dollars invested at 8% is

Answer 1

total = 1600 +0.05x

Explanation:

I = Prt

You want the sum of the interest from the two investments. The interest at 13% is ...

I = Prt = x(0.13)(1) = 0.13x

The interest at 8% is ...

I = Prt = (20000-x)(0.08) = 1600 -0.08x

Then the total interest earned is ...

total = 0.13x + (1600 -0.08x)

total = 1600 +0.05x