SOLUTION: John invested $10,000, part at 5% and the rest at 6.5% interest. How much did he invest at each rate if the total annual interest earned was $530?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: John invested $10,000, part at 5% and the rest at 6.5% interest. How much did he invest at each rate if the total annual interest earned was $530?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 809461: John invested $10,000, part at 5% and the rest at 6.5% interest. How much did he invest at each rate if the total annual interest earned was $530?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
x+y=10000,
.05x+.065y=530
x=8000., y=2000.