SOLUTION: A total of $7000 is invested: part at 7% and the remainder at 12% . How much is invested at each rate if the annual interest is $650 ?

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Question 1072764: A total of
$7000 is invested: part at
7% and the remainder at
12%
.
How much is invested at each rate if the annual interest is
$650
?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
Let n be the amount invested at 12%. Then the amount invested at 7% is 7000-n. So:
.12n+.07(7000-n)=650
.05n=160
n=3200
$3200 is invested at 12%, and $3800 is invested at 7%. ☺☺☺☺