Question 774272: Larrry Mitchell invested part of his $29,000 at 7% annual interest and the rest at 6% interest annual simple interest. If his total yearly interest from both accounts was $1,880. Find the amount invested at both rates. X = ___ y = ___
Answer by oscargut(2103)   (Show Source):
You can put this solution on YOUR website! Larrry Mitchell invested part of his $29,000 at 7% annual interest and the rest at 6% interest annual simple interest. If his total yearly interest from both accounts was $1,880.
Let X = amount invested at 7 %
Let Y = amount invested at 6 %
You have to solve:
x+y = 29,000
0.07x+0.06y=1880
Answer: X = 14,000 and Y = 15,000
I can help you with more questions at: mthman@gmail.com
Thanks
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