Question 104213
John invested $7000 into two funds.  One fund paid 14% interest per year and the other paid 11% interest per year.  The total interest for the year was $902.  How much money was invested at each rate?

 Let  one fund = x

 The other fund = 7000-x

 Interest paid for first fund = 14% of x  = (14/100)x
 Interest paid for the second fund = 11% of (7000-x) =  (11/100)(7000-x)
 Total interest = $902
 (14/100)x +(11/100)(7000-x) = $902

   (14x + 77000-11x)/100  = $902
  
   (3x+77000)/100 = $902
   
    (3x+77000) /100*100 = 902*100

 3x +77000 = 90200
 3x +77000-77000 = 90200-77000
3x = 13200
3x/3 = 13200/3
x =  $4400--- interest  paid for the first fund
7000-x = 7000-4400 = $2600 Interest paid for the second fund

 First fund interest = $4400
 Second fund interest = $2600