SOLUTION: John invested $10,000, part at 5% and the rest at 6.5% interest. How much did he invest at each rate if the total annual interest earned was $530?
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Question 809461: John invested $10,000, part at 5% and the rest at 6.5% interest. How much did he invest at each rate if the total annual interest earned was $530?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
x+y=10000,
.05x+.065y=530
x=8000., y=2000.
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