SOLUTION: Bob invested $12,000, part at 2% and part at 11%. If the total interest at the end is 870. How much did he invest at 2%?
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Question 867314: Bob invested $12,000, part at 2% and part at 11%. If the total interest at the end is 870. How much did he invest at 2%?
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
x=amount invested at 11%
.11x+.02(12000-x)=870
.11x+240-.02x=870
.09x=630
9x=63000
x=7000
12000-7000
=$5000. invested at 2%
.
Ed
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