Jorge invested a total of $5000. He invested some of his money at 4% and the rest at 7%. If the total return at the end of the year was $320, how much was invested at each rate?

Answers

Answer 1

Step-by-step explanation:

Let's solve this problem using a system of equations.

Let's assume that Jorge invested x dollars at 4% interest and (5000 - x) dollars at 7% interest.

The interest earned from the 4% investment can be calculated as (4/100) * x.

The interest earned from the 7% investment can be calculated as (7/100) * (5000 - x).

According to the problem, the total return at the end of the year was $320. Therefore, we can set up the following equation:

(4/100) * x + (7/100) * (5000 - x) = 320

Simplifying and solving for x:

(4/100) * x + (7/100) * 5000 - (7/100) * x = 320

0.04x + 0.07(5000 - x) = 320

0.04x + 350 - 0.07x = 320

-0.03x = -30

x = -30 / -0.03

x = 1000

Jorge invested $1000 at 4% interest and the remaining amount, $5000 - $1000 = $4000, at 7% interest.

Therefore, Jorge invested $1000 at 4% and $4000 at 7%.

Answer 2

Brainliest answer is correct

Related Questions

Use the distributive property to write an expression that is equivalent to 3(-4 - 5x) in expanded form.

Answers

Answer:-12 - 15x

Step-by-step explanation: multiply both numbers in the parentheses by 3 so 3(-4) and 3(-5) then the X stays with the 5

Answer : -12-15x

Explanation :
3(-4 -5x)
3(-4) - 3(5x)
-12 - 15x

Hope it helps

You had 20 cherries. You gave 3 to each of your friends. You still have 2 left over. How many friends do you have?

Answers

Explanation: You would have 6 friends witch comes up to 18 and have 2 leftover
Answer: 6

Answer:

You have 15 friends.

Step-by-step explanation

Simplify 20 down to where it cannot go any further (meaning no decimals) 20/2= 10 10/2=5, then multiply 5 by 3, and you get 15.

You have 27 pieces of candy and you want to split it among your 6 friends. How many pieces of candy will be left over?

Answers

3 candys will be left over

Answer would be 3 candies

What is the perimeter of the triangle below

Answers

Answer:

P = 36 inches

Step-by-step explanation:

To find the perimeter of the triangle, add up all the sides.

P = s1 + s2+ s3

P = 13+13+10

P = 36 inches

Answer: The perimeter of the triangle is 36 inches. The correct option is d

Step-by-step explanation:

The perimeter of a triangle is calculated by adding the length of all sides of the triangle. This is an isosceles triangle. This means that the length of two sides out of three of the shape have the same length.

In such a triangle, the two equal sides are called the arms. The other side, represented usually as the lowermost, is called the base. The formula to find the perimeter of any isosceles triangle is-

Perimeter=(arm length)*2+base length

Therefore-

Perimeter=(13 inches)*2+10inches=36

To learn more about isosceles triangle,

https://brainly.com/question/29793403

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