SOLUTION: Larry Mitchell invested part of his $16,000 advance at 5% annual simple interest and the rest at 6% annual simple interest. If his total yearly interest from both acco

SOLUTION: Larry Mitchell invested part of his $16,000 advance at 5% annual simple interest and the rest at 6% annual simple interest. If his total yearly interest from both acco

Algebra.Com

Question 902258: Larry Mitchell invested part of his
$16,000
advance at
5%
annual simple interest and the rest at
6%
annual simple interest. If his total yearly interest from both accounts was
$850,
find the amount invested at each rate.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
.06x + .05(16000-x) = 850
x = 50/.01, amount at 6%
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