Best Answer

Many times when solving word problems, it's harder to figure out the question and the formulas to use than it is to do the algebra itself. So let's try to figure this out.

We'll let x be the amount of money the guy invested at 3 percent.

We'll let 8000 - x be the rest of it, which he invested at 4 percent.

That means that 0.03 * x is the amount of interest he earned on the money invested at 3 percent, and 0.04 * (8000 - x) is the amount he earned at 4 percent.

We also know that those two values add up to 275 dollars, so we can write the following equation: 0.03x + 0.04(8000 - x) = 275. Solving for x, we get

0.03x + 0.04(8000 - x) = 275

0.03x + 320 - 0.04x = 275

-0.01x = -45

x = 4500

So 4500 is the amount invested at 3 percent. The rest, 8000 - 4500 = 3500, is invested at 4 percent. How do you get -0.01x=-45

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If a man takes a portion of 8000 dollars and invests it at 3 percent and invests the rest of it at 4 percent and earns 275 dollars in interest in one year how much did he invest at each rate?
Write your answer...
Still have questions?
magnify glass
Related questions

When mortgage payments are made in what way does the interest portion change each month and why?

Each month, the interest portion of the payment decreases and the principal portion of the payment increases. The interest decreases because the outstanding principal balance decreases each month as payments arev made. At the beginning of a loan, the interest portion of a payment is large and the principal is small. Towards the end of the loan, the interest portion is small and the principal portion is larger.

When are non qualified annuities taxed?

A non qualified annuity is purchased with after tax dollars. The only portion of the annuity that is taxable is the interest portion. This is taxed upon the withdrawal from the annuity at a ration set forth by the company under the guidelines of the IRS.

Is the rate in the portion formula is always expressed with a percent symbol?

The portion is sometimes expressed with a percent symbol. true or false

Is the rate in the portion formula always expressed with a percent symbol?

The portion is sometimes expressed with a percent symbol. true or false

You are purchasing an annuity with all after tax dollars why is a portioin of your monthly payment taxable until you have withdrawn your investment?

A portion of your payment is taxable because there is an interest rate factor that is paid on the after tax portion resulting in taxable gain. Normally, interest paid to you would all be taxed first under the LIFO ruling (last in, first out) like in a C.D.. However, an immediate annuity allows you to spread that interest (gain) out over the period of the contract which usually benefits you in regards to income taxes. So, every payment has a "tax-free" portion and a "taxable"portion.

Is retained earnings the same as contributed capital?

Contributed capital is that amount which owner of business invests in business while retained earning s is that portion of net income which is not distributed as dividend.

What portion of the brain is water?

77 to 78 percent

Does current portion of long term debt include interest?

No, only the principal to be paid during that year. Interest is separated and classified as Interest Expense.

Company would pay interest on what portion of the loan?

disbursed amount

What makes up the largest portion of uncontrollable spending in the national budget?

The largest portion of uncontrollable spending in the federal budget is the spending that Congress approves.

What is the difference between interest coverage ratio and debt coverage ratio?

Interest coverage ratio, is net operating income + accrual/ interest That is whether the company can cater for the interest portion.

What portion of shoes are imported?

89.5 percent of shoes were imported in 1995