SOLUTION: you invested $14000 in two accounts paying 3% and 8% annual interest respectively. If the total interest earned for the year was $1070, how much was invested at each rate?

Question 868955: you invested $14000 in two accounts paying 3% and 8% annual interest respectively. If the total interest earned for the year was $1070, how much was invested at each rate?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!



Hi

.08x + .03($14000-x) = $1070

              .05x = 1070 - 420

                 x = $13,000, amount at 8%, $1000 at 3% 

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