SOLUTION: Invested $22,000, part at 8% and part at 7%. If the total interest at the end of the year is $1,710, how much did she invest at 8%? Invested $20,000, part at 14% and part at 13

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Invested $22,000, part at 8% and part at 7%. If the total interest at the end of the year is $1,710, how much did she invest at 8%? Invested $20,000, part at 14% and part at 13      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 125515: Invested $22,000, part at 8% and part at 7%. If the total interest at the end of the year is $1,710, how much did she invest at 8%?
Invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is 2,720, how much did he invest at 14%?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Invested $22,000, part at 8% and part at 7%. If the total interest at the end of the year is $1,710, how much did she invest at 8%?
-----------
I'll do one and leave the other to you.
----------------------
Let amt invested at 8% be "x" ; interest is 0.08x dollars
--------
Amt invest at 7% is "22000-x ; interest is 0.07(22000-x) = 1540-0.07x dollars
---------------------
EQUATION:
interest + interest = 1710 dollars
0.08x + 1540-0.07x = 1710
0.01x = 170
x = $17000 (amt. invested at 8%)
22000-x = 5000 (amt invested at 7%)
=================
Cheers,
Stan H.