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7 February, 19:52

brian earned $14,000 last spring giving swimming lessons. He invested part of the money at 5% simple interest & the rest at 3%. In one year, he earned a total of $570 interest. How much did he invest at each rate?

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  1. 7 February, 21:05
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    A = 7500

    B = 6500

    Explanation:

    we buid the equation:

    A + B = 14,000

    then: B = 14,000 - A

    interest formula:

    A x (0.05 x 1) + (14,000-A) x (0.03 x 1) = 570

    (0.05A - 0.03) A + 420 = 570

    A = (570 - 420) / 0.02

    A = 7,500

    B = 14,000 - A = 14,000 - 7,500 = 6,500
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