If there are $x at 7% then the rest (14000-x) is at 11%. So, adding up the interest, you have
.07x + .11(14000-x) = 1220
Mr. Jones has $14,000 to invest. He invests part at 7% and the rest at 11%. If he earns $1,220 in interest after
1 year, how much did he invest at each rate?
1 answer
1 answer