Question 136254: Colin invested $32,000, part at 8% and part at 12%. If the total interest at the end of the year is $3,160, how much did he invest at each rate?
Found 2 solutions by checkley77, oscargut:
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! .12x+.08(32,000-x)=3,160
.12x+2,560-.08x=3,160
.04x=3,160-2,560
.04x=600
x=600/.04
x=15,000 invested @ 12%.
32,000-15,000=17,000 invested @ 8%.
proof
.12*15,000+.08*17,000=3,160
1,800+1,360=3,160
3,160=3,160
Answer by oscargut(2103)  (Show Source):
You can put this solution on YOUR website! Colin invested $32,000, part at 8% and part at 12%. If the total interest at the end of the year is $3,160, how much did he invest at each rate?
C1+C2=32000
C1(0.08)+C2(0.12)=3160
C1(0.08)+(32.000-C1)(0.12)=3160
-C1(0.04)+3840=3160
-C1(0.04)=-680
C1=17.000
C2=15.000
Answer: 17000 at 8% and 15000 at 12%
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