SOLUTION: Stan invested $17,000, part at 18% and part at 4%. If the total interest at the end of the year is $1,380, how much did he invest at each rate?

Question 108124: Stan invested $17,000, part at 18% and part at 4%.
If the total interest at the end of the year is $1,380, how much did he invest at each
rate?

Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
Let's call the part he invested at 18%, E, and the part he invested at 4%, F.
Then you know that,
1.
2.
Use 1. to solve for E in terms of F.
1.

Now substitute that into equation 2 and solve for F.
2.

From 1.

Verify your answer using equation 2.

Close enough, round off error.
Good answer.
$4571.43 at 18%, $12428.57 at 4%.
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