Mr Joyce invested $ 25,000, part at 4% interest and the remainder at 7% interest. The total income he received from his investment was $1,450. How much did he invest at each interest rate?

Question

Thank you

Answer 1

if x is at 4%, then the rest (25000-x) is at 7%

So, add up the interest:

.04x + .07(25000-x) = 1450

Answer 2

Thank you so much Steve