SOLUTION: Robert invests $8000 in a bank. Part is invested at 7% simple interest and part at 9% simple interest. In one year Robert earns $660 in interest. How much did he invest at each amo
Algebra ->
Algebra
-> Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Robert invests $8000 in a bank. Part is invested at 7% simple interest and part at 9% simple interest. In one year Robert earns $660 in interest. How much did he invest at each amo
Log On
Question 225520: Robert invests $8000 in a bank. Part is invested at 7% simple interest and part at 9% simple interest. In one year Robert earns $660 in interest. How much did he invest at each amount? Answer by solver91311(12126) (Show Source):
Let represent the amount invested at 7%. Then the amount invested at 9% must be . The amount of interest earned on the 7% investment is then and the amount earned on the 9% investment is . The sum of these two amounts earned is $660, so:
Solve for to get the amount at 7% and subtract that amount from 8000 to get the other amount.
