SOLUTION: larry mitchell invested part of his 14,000 advance at 7% annual simple interest and the rest at 3% annual simple interest. if his total yearly interest from both accounts was $740

SOLUTION: larry mitchell invested part of his 14,000 advance at 7% annual simple interest and the rest at 3% annual simple interest. if his total yearly interest from both accounts was $740

Algebra.Com

Question 1033826: larry mitchell invested part of his 14,000 advance at 7% annual simple interest and the rest at 3% annual simple interest. if his total yearly interest from both accounts was $740 find the amount invested at each rate?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x=amount at 7%
14000-x =amount at 3%
.07x+(0.03)*(14000-x)=740
.07x+420-.03x=740
.04x=320
x=$8000 at 7%=$560
14000-x=$6000 at 3%=$180
They add to $740
RELATED QUESTIONS
Larry Mitchell invested part of his $30,000 advance at 5% annual simple interest and the... (answered by greenestamps)

Larry Mitchell invested part of his $21,000 advance at 8% annual simple interest and the... (answered by addingup)

Larry Mitchell invested part of his $27,000 advance at 7% annual simple interest and the... (answered by solver91311)

Larry Mitchell invested part of his $ 35,000 advance at 7% annual simple... (answered by addingup)

Larry Mitchell invested part of his $29,000 advance at 8% annual simple interest and the... (answered by addingup)

Larry Mitchell invested part of his $ 32,000 advance at 4% annual simple interest and the (answered by ikleyn)

larry mitchell invested part of his 28000 advance at 3% annual simple interest and the... (answered by checkley79)

Larry mitchel invested part of his $13,000 advance at 7% annual simple interest and the... (answered by ikleyn,greenestamps)

larry mitchell invested part of his $34,000 advance at 5% annual simple interest and the... (answered by fractalier)