Answer:
$11,000
Explanation:
Let amount invested for 12% yield be p . Amount for 4% yield is therefore (18000-p)
Interest for 12%: 12% of p=0.12p
Interest for 4%: 4% of (18000-p)=0.04(18000-p)=720-0.04p
Total interest:
=0.12p + (720-0.04p)
=0.12p-0.04p+720
=0.08p+720
But we already know the total interest is 1280
Therefore: 0.08p+720=1280
0.08p=1280-720
0.08p=560
p=560÷0.08
p=7000
Therefore at 4% the person invested:
(18000-p)
18000-7000
$11,000