SOLUTION: John invests $6000, part at 12% interest and part at 8%. If he earned a total of $660 in interest for the year, how much did he invest at each rate?

Question 1088591: John invests $6000, part at 12% interest and part at 8%. If he earned a total of $660 in interest for the year, how much did he invest at each rate?
Answer by Tatiana_Stebko(1539) (Show Source): You can put this solution on YOUR website!
Let be the amount of money invested at 12%
Let be the amount of money invested at 8%
Since John invests $6000, then
He earned a total of $660 in interest, hence
The system of equations is

John invested $4500 at 12% and $1500 at 8%
Answer: $4500 at 12% and $1500 at 8%
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