SOLUTION: an executive invest $22000, some at 7% and some at6% annual interest. If he recieves an annual return of $1420, how much is invested in each rate?

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Question 150124: an executive invest $22000, some at 7% and some at6% annual interest. If he recieves an annual return of $1420, how much is invested in each rate?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.07X+.06(22,000-X)=1,420
.07X+1,320-.06X=1,420
.02X=1,420-1,320
.01X=100
X=100/.01
X=$10,000 INVESTED @ 7%.
22,000-10,000=$12,000 INVESTED @ 6%.
PROOF
.07*10,000+.06*12,000=1,420
700+720=1,420
1,420=1,420