Hakim invested $15,000. He put part in a term deposit that paid 4% per annum, and the remainder in T - bills at 5% per annum. After one year the total interest earned was $690. How much did Hakim invest at each rate?

vxnessa Mar 3, 2022

#1**+1 **

x ( .04) + (15 000 - x) (.05) = 690 solve for x (the amount at 4%) then the 5% amount is 15 000 - x

If you must have two variables

x = 4% amount

y = 5% amount

x + y = 15000 y = (15000 - x)

.04 x + .05 y = 690 now y = 15 000 - x sub that in

.04x + .05 ( 15000 - x) = 690

ElectricPavlov Mar 4, 2022