Question 308898: Not exactly sure where this type of equation fits in but I am in need of obtaining assistance.
A college student invested part of a $25,000 inheritance at 7% interest and the rest at 6%. If his annual interest is $1,671 how much did he invest at 6%? If the answer is $8,000, explain how you would solve the problem.
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! A college student invested part of a $25,000 inheritance at 7% interest and the rest at 6%.
If his annual interest is $1,671 how much did he invest at 6%? If the answer is $8,000,
:
Let x = amt invested at 7%
The total is given as 25000, therefore
(25000-x) = amt invested at 6%
:
Write a total interest equation
.07x + .06(25000-x) = 1671
solve for x
See if you can do this now. If not, let me know in the comment section and I will
edit this to show you how to proceed.
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