SOLUTION: Andrew invested $6,500 part at a 7% annual rate of interest and the rest at 6%. The incomes from the two investments are equal. Find the amount invested at each rate.
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Question 752742: Andrew invested $6,500 part at a 7% annual rate of interest and the rest at 6%. The incomes from the two investments are equal. Find the amount invested at each rate. Answer by malglu(63) (Show Source):
You can put this solution on YOUR website! let x be the amout invested at 6%
6/100 * x = 7/100 * (6500-x)
multiplying out and simplyfying
you get x = 3500
so the amount invested at 7% is 6500 - 3500 = 3000
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