A self-employed contractor nearing retirement made two investments totaling $15,000. In one year, these investments yielded $1023 in simple interest. Part of the money was invested at 6% and the rest at 7.5%. How much was invested at each rate?

Answer 1

amount invested at 6% .... x
amount invested at 7.5% ----- 15000 - x

.06x + .075(15000-x) = 1023

solve for x, etc

notice this equation follows the same thinking as the equation I gave you in your previous post with the mixtures.

Answer 2

this is just another mixture problem. How did you set it up?