SOLUTION: susan invested a total of $14,000. Part of it was at 6% interest and the other was at 8% interest. The total interest earned in one year was $1,060.00. how mush interest was war

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: susan invested a total of $14,000. Part of it was at 6% interest and the other was at 8% interest. The total interest earned in one year was $1,060.00. how mush interest was war      Log On


   

Question 107398: susan invested a total of $14,000. Part of it was at 6% interest and the other was at 8% interest. The total interest earned in one year was $1,060.00. how mush interest was warned at each rate?
what is the formula used?
Thank you
Melinda
Answer by Annabelle1(69) About Me  (Show Source):
You can put this solution on YOUR website!
let the amount you invest at 85% be x. So the amount you invest at 6% is (14000-x)
%2814000-x%29%2A6%2F100%2Bx%2A8%2F100=1060
840-%286x%29%2F100%2B%288x%29%2F100=1060
840%2B%282x%29%2F100=1060
%282x%29%2F100=200
x=11000
this is the amount inveated at 8%. So the amount invested at 6% is $3000