SOLUTION: you invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned for the year was $520, how much was invested at each rate?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: you invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned for the year was $520, how much was invested at each rate?      Log On


   

Question 335667: you invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned for the year was $520, how much was invested at each rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
0.06x+0.08(7000-x)=520
0.06x+560-0.08x=520
-0.02x=-40
x=$2000 at 6%
7000-2000=$5000 at 8%