Jack invested $30 000 and received $2 300 in interest. Part of money was invested at 10% the remainer at 5%, how much was invested at each rate?
I thought the money invested should be $30,000 and the interest should be $2,300.
Now suppose x represents the money invested at 10% ...
A problem involving money invested at different interest rates is solved using systems of equations. The solution is explained.