Question 983253: Part of $18,000 is invested at 8% annual interest, and the rest is invested at 6%. After one year, the accounts paid $1,220 in interest. How much was invested at the lower rate? round to nearest cent.
Answer by solver91311(24713)   (Show Source):
You can put this solution on YOUR website!
Instead of showing you how to solve this problem, I'll show you how to solve all problems of this type.
 , a portion of  currency units, is invested at  percent annual interest and the other part,  , is invested at  percent annual interest. After one year the accounts paid  currency units in interest. How much was invested at each of the interest rates?
\ =\ Y) .
You are given , , , and . Solve for and then calculate 
John
My calculator said it, I believe it, that settles it
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