SOLUTION: Jasmine invest a total of 7,000 in two accounts. She invest part at 7% and the rest at 12%. The annual return on the two accounts was $690. Howmuch did she invest at each rate?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jasmine invest a total of 7,000 in two accounts. She invest part at 7% and the rest at 12%. The annual return on the two accounts was $690. Howmuch did she invest at each rate?      Log On

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Question 904545: Jasmine invest a total of 7,000 in two accounts. She invest part at 7% and the rest at 12%. The annual return on the two accounts was $690. Howmuch did she invest at each rate?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
x amount at 12%
.12x + .07(7000-x) = 690
x = 200/.05 = $4000 amount at 12%. $3000 at 7% 7000-4000