SOLUTION: Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%? thanks

SOLUTION: Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%? thanks

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Question 70244: Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%?
thanks
Answer by checkley75(3666) (Show Source): You can put this solution on YOUR website!
.14X+.13(20000-X)=2720
.14X+2600-.13X=2720
.01X=2720-2600
.01X=120
X=120/.01
X=12000 AMOUNT INVESTED @ 14%
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