SOLUTION: Investing. A man invested $14,000, some at 7% and some at 10% annual interest. The annual income from these investments was $1,280. How much did e invest at each rate?

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Question 155493This question is from textbook Intermediate Algebra
: Investing. A man invested $14,000, some at 7% and some at 10% annual interest. The annual income from these investments was $1,280. How much did e invest at each rate? This question is from textbook Intermediate Algebra

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.10x+.07(14,000-x)=1,280
.10x+980-.07x=1,280
.03x=1,280-980
.03x=300
x=300/.03
x=10,000 invested @ 10%
14,000-10,000=4,000 invested @ 7%
Proof:
.10*10,000+.07*4,000=1,280
1,000+280=1,280
1,280=1,280