Riley invested RM150,000, part at an interest rate of 5% annually, and the remainder at 3% annually. The total interest at the end of 1 year was equivalent to an annual 3.5% rate on the entire RM150,000. How much was invested at an annual interest rate of 39%? A. RM37,500 B. RM75,000 C. RM90,000 D. RM112,500

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
icon
Related questions
icon
Concept explainers
Topic Video
Question

Riley invested RM150,000, part at an interest rate of 5% annually, and the remainder at 3% annually. The total interest at the end of 1 year was equivalent to an annual 3.5% rate on the entire RM150,000. How much was invested at an annual interest rate of 39%?

A. RM37,500

B. RM75,000

C. RM90,000

D. RM112,500

Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell