Ask a New Question

Question

Joe invested $12000, part at 6% interest and part at 8% interest. In the first year he earned $860 in interest. How much was invested at each rate?
17 years ago

Answers

DrBob222
Let x = amount invested.
x(0.06) + (12000-x)(0.08) = 860.
Solve for x.
17 years ago

Related Questions

Bob invested $30,000, part at 10% and part at 1%. If the total interest at the end of the year is $1... Bob invested $25,000, part at 2% and part at 9%. If the total interest at the end of the year is $1,... 12000 was invested in two funds. the first made 5% interest and the second made 8%. the total inte... you invested 12000 in two accounts paying 5% and 7% annual interest. If the totak interest earned fo... I invested $3,000, part at 2% and the rest at 5% simple interest. After 1 year, I earned a total of... A man invested $15,000. Part of the investment was put into an account that gave 7%, and part in an... Sam invested part of his 36,000 bonus in a fund that paid an 8% profit and invested the rest in stoc... 12000 was invested in 2 accounts, one earning 12% simple interest and the other earning 8% simple i... if karla invested 12000$ in abc bank for annual rate 3.9 for 6 years with compounded monthly interst... sarah invested £12000 in a unit trust 5 years ago, the value of the unit trust increased by 7% per...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use