Applications of Systems of Equations : Money Invested at Different Interest Rates

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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?

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Solution Preview

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% ...

Solution Summary

A problem involving money invested at different interest rates is solved using systems of equations. The solution is explained.

$2.49