SOLUTION: A total of $6000 is invested. Part at 8% and the remainder at 14%. How much is invested at each rate if the annual interest is $780
Algebra ->
Percentage-and-ratio-word-problems
-> SOLUTION: A total of $6000 is invested. Part at 8% and the remainder at 14%. How much is invested at each rate if the annual interest is $780
Log On
Question 429877: A total of $6000 is invested. Part at 8% and the remainder at 14%. How much is invested at each rate if the annual interest is $780 Answer by htmentor(1343) (Show Source):
You can put this solution on YOUR website! Let x = the amount invested at 14%
Then 6000-x = the amount invested at 8%
The total interest earned is $780.
So we can write
0.14x + 0.08(6000-x) = 780
Solve for x:
0.14x - 0.08x + 480 = 780 -> x = 300/0.06 = $5000
Therefore the amount invested at 8% interest = 6000 - 5000 = $1000
