SOLUTION: Calvin invested $7500 for one year, part at 12% annual interest and the rest at 10% annual interest. his total interest fot the year was $890. How much money did he invest at 12%?

Algebra ->  Algebra  -> Finance -> SOLUTION: Calvin invested $7500 for one year, part at 12% annual interest and the rest at 10% annual interest. his total interest fot the year was $890. How much money did he invest at 12%?      Log On

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Question 195889: Calvin invested $7500 for one year, part at 12% annual interest and the rest at 10% annual interest. his total interest fot the year was $890. How much money did he invest at 12%?
Answer by checkley77(7072) About Me  (Show Source):
You can put this solution on YOUR website!
.12x+.10(7,500-x)=890
.12x+750-.10x=890
.02x=890-750
.02x=140
x=140/.02
x=$7,000 is the amount invested @ 12%.