HELP PLEASE! ASAP! ALGEBRA WORD PROBLEM?
hank invested a sum of money at 8.5% and another at 10.75%. The amount invested at 8.5% was 4,000 less than twice the amount at 10.75%. If his total income from simple interest for one year was $1325, how much did he invest at each rate
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let the amount invested at 10.75% be x
then the other is 2x - 4000
8.5%(2x - 4000) + 10.75%x = 1325
multiply by 400 to get rid of fractions
34(2x - 4000) + 43x = 1325(400)
68x - 340(400) + 43x = 1325(400)
111x = 1665(400)
x = 15(400) = 6000 at 8.5%
2(6000) - 4000 = 8000 at 10.75%
0.1075x+0.085(2x-4000) =1325
0.2775x = 1665
x = $6000 at 10.75%
$8000 at 8.5%