SOLUTION: An executive invests $27,000, some at 8% and some at 6% annual interest. If he receives an annual return of $1,900, how much is invested at each rate? at 8% interest $

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Question 703366: An executive invests $27,000, some at 8% and some at 6% annual interest. If he receives an annual return of $1,900, how much is invested at each rate?

at 8% interest $
at 6% interest $

Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
.08x+.06(27000-x)=1900
.08x+1620-.06x=1900
.02x=1900-1620
.02x=280
x=280/.02
x=$14000 amount invested @ 8%
27000-14000=$13000 amount invested @ 6%.
Proof:
.08*14000+.06*13000=1900
1120+780=1900
1900=1900