Question

A total of $8000 is invested: part at 8% and the remainder at 12%. How much is invested at each rate if the annual interest is $650?

Answer 1

8% = $7750

12% = $250

Explanation:

I P R. T.

8% X .08 .08X

12% 8000-X .12 .12(8000-X)

.08X + .12(8000-X) = 650

.08X + 960 - .12X = 650

-960 -960

.08x - .12x = -310

-.04x = -310

-.04x -.04x

X = 7750

Verify:

X = 7750

8000 - X = 250

250 + 7750 = 8000