document.write( "Question 1196412: The annual interest on a $14,000 investment exceeds the interest earned on a $7000 investment by $294. The $14,000 is invested at a 0.6% higher rate of interest than the $7000. What is the interest rate of each investment? \n" ); document.write( "
Algebra.Com's Answer #829224 by josgarithmetic(39617)![]() ![]() ![]() You can put this solution on YOUR website! If simple interest, one year, r the rate as decimal for the part invested for $7000\r \n" ); document.write( "\n" ); document.write( "Then amount invested at the 14000 is r+0.06.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Interest from the $14000 MINUS interest from the $7000 EQUALS $294.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "Solve this for r. \n" ); document.write( " |