SOLUTION: an investor invested $13,000 part at 8% and the rest at 12%., Find the amount invested at each rate if the annual income from the two investments is $1,240.

SOLUTION: an investor invested $13,000 part at 8% and the rest at 12%., Find the amount invested at each rate if the annual income from the two investments is $1,240.

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Question 441170: an investor invested $13,000 part at 8% and the rest at 12%., Find the amount invested at each rate if the annual income from the two investments is $1,240.
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
x+y=13000
8x+12y=124000
8x+8y=104000
4y=20000
y=5000
x=8000
The investor invested $8000 at 8% and $5000 at 12%..

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