Question

An investment advisor invested a total of $12,000, part at 2.5% annual simple interest and part at 4% annual simple interest. The amount of interest earned for 1 year was $426. How much was invested at the 2.5% rate and how much was invested at the 4% rate?

Answer 1

let the amount invested at 2.5% be x
then the amount invested at 4% is 12000-x

solve the equation
.025x + .04(12000-x) = 426

Answer 2

I figured it out. Thanks for your help!