SOLUTION: Bob invested $20,000, part at 14% and part at 13%. If the total interest at teh end of the year is $2,720, how much did he invest at 14%?

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Bob invested $20,000, part at 14% and part at 13%. If the total interest at teh end of the year is $2,720, how much did he invest at 14%?       Log On


   

Question 98604: Bob invested $20,000, part at 14% and part at 13%. If the total interest at teh end of the year is $2,720, how much did he invest at 14%?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
.14X+.13(20000-X)=2720.
.14X+2600-.13X=2720
.14X-.13X=2720-2600
.01X=120
X=120/.01
X=12000 ANSWER INVESTED @ 14%.
20000-12000=8000 INVESTED @ 13%.
PROOF
.14*12000+.13*8000=2720
1680+1040=2720
2720=2720