SOLUTION: part of $12,000 investment earned interest at a rate of 7% and the rest earned interest at a rate of 9%. the combined interest earned at the end of 1 year was $890. how much was in

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Question 221964: part of $12,000 investment earned interest at a rate of 7% and the rest earned interest at a rate of 9%. the combined interest earned at the end of 1 year was $890. how much was invested at each rate?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.09x+.07(12,000-x)=890
.09x+840-.07x=890
.02x=890-840
.02x=50
x=50/.02
x=2,500 amount invested @ 9%.
12,000-2,500=9,500 invested @ 7%.
Proof:
.09*2,500+.07*9,500=890
225+665=890
890=890