SOLUTION: Trevor invests $10,000 for a year. He obtained 8% per annum for a part of the money and 10% per annum for the remainder.At the and of the year, he will receive $950 in interest. Ho
Algebra.Com
Question 1015220: Trevor invests $10,000 for a year. He obtained 8% per annum for a part of the money and 10% per annum for the remainder.At the and of the year, he will receive $950 in interest. How much does he invested at 10%?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
A person has 
currency units invested in 2 accounts.
One account earns 
percent interest, and the other account earns 
percent interest.
The two accounts earn a total of 
interest in one year.
How much is invested in each account?
Let 
be the amount invested at percent. Then the amount invested at percent is 
, and:
\ =\ I)
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
RELATED QUESTIONS
Mr.Thompson invests a principal of $8000; part at 8% per annum and the rest at 10% per... (answered by checkley71)
A broker invested $10000, part earning interest at 8% per annum, and the remainder at 10% (answered by Boreal)
Solve Problems Using Linear Systems
8. Hakim invested $15 000. He put part of it in a... (answered by Earlsdon)
Pete won $10 000 in a lottery. He invested his winnings, part at 10% per annum and part... (answered by checkley71)
john invested 4000 for a year, part at 7% per annum and part at 9% per annum. the... (answered by Alan3354)
Jim put $2000 a year into an investment every year for 15 years. The investment paid 6%... (answered by greenestamps)
An investor received $1400 interest per annum from a sum of money, with part of it... (answered by edjones)
Liam invests £6200 for 3 years in a savings account. He gets 2.5% per annum compound... (answered by josgarithmetic)
Mr. Mehta deposited Rs. 10,000 in HSBC bank at his sixth marriage anniversary and... (answered by Theo)