SOLUTION: A total of $7000 is invested: part at 7% and the remainder at 11%. How much is invested at each rate if the annual interest is $760?

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Question 696497: A total of $7000 is invested: part at 7% and the remainder at 11%. How much is invested at each rate if the annual interest is $760?
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
.07x+.11(7000-x)=760
.07x+770-.11x=760
-.04x=760-770
-.04x=-10
x=-10/-.04
x=$250 invested @ 7%.
7000-250=$6750 invested @ 11%.
Proof:
.07*250+.11*6750=760
17.50+742.50=760
760=760