Question 1163997
An executive invests $21,000, some at 6% and the rest at 5% annual interest. If he receives an annual return of $1,180, how much is invested at each rate?
<pre>Let amount invested at 6% be S
Then amount invested at 5% is: 21,000 - S
We then get: .06S + .05(21,000 - S) = 1,180
.06S + 1,050 - .05S = 1,180
.01S = 130
Amount invested at 6%, or {{{highlight_green(matrix(1,5, S, "=", 130/.01, "=", highlight("$13,000")))}}}
Based on provided info, do you think you can find the amount invested at 5%?