Stan invested $32,000, part at 2% and part at 17%. If the total interest at the end of the year is $2890, how much did he invest at 2% ?
A) $16,000
B) $18,000
C) $17,000
D) $15,000

Question

Quizplus · Accepted Answer

Let x be the amount invested at 2%. Then, the amount invested at 17% is $32,000 - x. The equation for total interest is 0.02x + 0.17(32,000 - x) = 2890. Solving this equation gives x = $17,000.

Stan Invested $32,000, Part at 2% and Part at 17