Question 1206863
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You invested ​$24 comma 00024,000 in two accounts paying 5 %5% and 7 %7% annual​ interest, respectively. 
If the total interest earned for the year was $1400, how much was invested at each​ rate?
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Let x dollars be the amount invested at 7%.
then the amount invested at 5% is (24000-x) dollars.


Write equation for the total annual interest

    0.07x + 0.05*(24000-x) = 1400  dollars.


Simplify and find x

    0.07x + 0.05*24000 - 0.05x = 1400

    0.07x - 0.05x = 1400 - 0.05*24000

        0.02x     =     200

            x     =     200/0.02 = 20000/2 = 10000.


<U>ANSWER</U>.  $10000 invested at 7%, the rest, or 24000-10000 = 14000 dollars invested at 5%.


<U>CHECK</U>.   0.07*10000 + 0.05*14000 = 1400 dollars, the combined annual interest.   ! correct !
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Solved.