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Solve the Problem. -Paul Nagel Invested Some Money at 4.5% Simple Interest and Simple

Question 190

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Solve the problem.
-Paul Nagel invested some money at 4.5% simple interest and $ 1000 more than that amount at 3% simple interest. After 1 year, his total interest from the two accounts was $ 1380. How much did he invest at each rate?


A) $ 18,000 at 4.5%; $ 19,000 at 3%
B) $ 18,000 at 4.5%; $ 20,000 at 3%
C) $ 19,000 at 4.5%; $ 18,000 at 3%
D) $ 19,000 at 4.5%; $ 19,000 at 3%

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