Explanation Given: After 1 year, the total interest is $ 508 and total invested amount initially is $ 4000 . Some part at 12 % interest and the rest at 14 % interest. Formula used: Write the simple interest formula. I = P × R × T 100 Here, I is the simple interest, P is the principle amount, R is the rate of interest and T is the time invested in years. Calculation: Let x be the amount invested at 12 % interest rate and y be the amount invested at 14 % interest rate. So, according to the question. x + y = 4000 Write the above equation as: y = 4000 − x …...…... (1) The interest at x amount invested at 12 % interest rate. I x = P × R × T 100 Here, I x is the interest at x amount. Substitute x for P , 12 for R and 1 for T . I x = x × 12 × 1 100 = 12 x 100 …...…... (2) The interest at y amount invested at 14 % interest rate. I y = P × R × T 100 Here, I y is the interest at y amount. Substitute y for P , 14 for R and 1 for T . I y = y × 14 × 1 100 = 14 y 100 …...…... (3) Now, according to question total interest is $ 508 , therefore, I x + I y = 508 Substitute 12 x 100 for I x and 14 y 100 for I y

8th Edition

ISBN: 9780134178967

Author: John Tobey Jr., Jeffrey Slater, Jamie Blair, Jenny Crawford

Publisher: PEARSON

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Chapter 11, Problem 11PFE

To determine

To calculate: How much was invested at each interest rate when after 1 year the total interest is $508 and total amount invested initially is $4000. Some part at 12% interest and the rest at 14% interest.

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Chapter 11, Problem 10PFE

Chapter 11, Problem 12PFE

Chapter 11 Solutions

Intermediate Algebra (8th Edition)

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How much was invested at each interest rate when after 1 year the total interest is $ 508 and total amount invested initially is $ 4000 . Some part at 12 % interest and the rest at 14 % interest.

Solution Summary: The author calculates how much was invested at each interest rate after 1 year.

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To calculate: How much was invested at each interest rate when after 1 year the total interest is $508 and total amount invested initially is $4000. Some part at 12% interest and the rest at 14% interest.

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Chapter 11 Solutions