Asked by Kim
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?
Answers
Answered by
DrBob222
Let x = amount invested.
x(0.06) + (12000-x)(0.08) = 860.
Solve for x.
x(0.06) + (12000-x)(0.08) = 860.
Solve for x.
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