# SOLUTION: A total of \$11,000 is invested in two funds paying 7% and 8% simple interest. If the yearly interest is \$865, find the amount invested at each rate.

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: A total of \$11,000 is invested in two funds paying 7% and 8% simple interest. If the yearly interest is \$865, find the amount invested at each rate.      Log On

 Ad: Over 600 Algebra Word Problems at edhelper.com Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

 Word Problems: Money, Business and Interest Solvers Lessons Answers archive Quiz In Depth

 Question 360276: A total of \$11,000 is invested in two funds paying 7% and 8% simple interest. If the yearly interest is \$865, find the amount invested at each rate.Answer by mananth(12270)   (Show Source): You can put this solution on YOUR website!A total of \$11,000 is invested in two funds paying 7% and 8% simple interest. If the yearly interest is \$865, find the amount invested at each rate. ... 7% ------ \$x and 8% --------\$11000-x simple interest= \$865 .. 0.07x+0.08(11000-x)=865 multiply by100 7x+88000-8x=86500 -x=-1500 x= 1500 @ 7% \$9500 @8% m.ananth@hotmail.ca