part of $10,000 is invested at 11% simple interest account

madeleinejames20

madeleinejames20

Answered question

2021-06-08

part of $10,000 is invested at 11% simple interest account, the rest is at 14% simple interest account. If the annual income is $1,265, how much is invested at each rate?

Answer & Explanation

Jeffrey Jordon

Jeffrey Jordon

Expert2021-10-19Added 2605 answers

let x equal 11% , and y equal 14% x + y = 10,000 14x+14y = 1400 11 x + 14 y = 1265 subtracting equations ... 0,3 x = 135 x = 4500 y = 5500

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