SOLUTION: Colin invested $13,000, part at 15% and part at 10%. If the total interest at the end of the year is $1,900, how much did he invest at each rate? Place your answers in the two bla

Question 187319: Colin invested $13,000, part at 15% and part at 10%. If the total interest at the end of the year is $1,900, how much did he invest at each rate? Place your answers in the two blanks. Enter the amounts in whole dollars only. Do not use dollar signs, commas, or decimals when entering your values. Amount invested at 15% = _______, Amount invested at 10% = _______
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Colin invested $13,000, part at 15% and part at 10%. If the total interest at the end of the year is $1,900, how much did he invest at each rate? Place your answers in the two blanks. Enter the amounts in whole dollars only.
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interest + interest = interest
0.15x + 0.10(13000-x) = 1900
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Multiply thru by 100 to get:
15x + 10*13000 - 10x = 190000
5x = 60000
x = $12,000 (amt. invested at 15%)
13000-12000 = $1,000 (amt. invested at 10%)
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Cheers,
Stan H.
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