SOLUTION: Desa invested a certain amount of money at 2% interest and $12000 more than that amount at 7%. Her total yearly interest was $545. How much did she invest at each rate?

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Question 940746: Desa invested a certain amount of money at 2% interest and $12000 more than that amount at 7%. Her total yearly interest was $545. How much did she invest at each rate?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Desa invested a certain amount of money at 2% interest and $12000 more than that amount at 7%. Her total yearly interest was $545. How much did she invest at each rate?
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Equation::
interest + interest = interest
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0.02x + 0.07(12000-x) = 545
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2x + 7*12000 - 7x = 54500
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-5x = -29500
x = $5900 (amt. invested at 2%)
12000-x = 12000-5900 = $6100 (amt. invested at 7%)
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Cheers,
Stan H.
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