SOLUTION: Please help me solve this problem. Calvin invested $7500 for one year, part at 12% annual interest and the rest at 10% annual interest. His total interest for the year was $890

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Question 1001093: Please help me solve this problem.
Calvin invested $7500 for one year, part at 12% annual interest and the rest at 10% annual interest. His total interest for the year was $890. How much money did he invest at 12%?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


A person has currency units invested in 2 accounts.

One account earns percent interest, and the other account earns percent interest.

The two accounts earn a total of interest in one year.

How much is invested in each account?

Let be the amount invested at percent. Then the amount invested at percent is , and:



Solve for , then calculate

John

My calculator said it, I believe it, that settles it