# An executive invests $22,000, some at 7% and some at 6% annual interest. If he receives an annual return of$1,420, how much is invested at each rate? Question
Algebra foundations An executive invests $22,000, some at 7% and some at 6% annual interest. If he receives an annual return of$1,420, how much is invested at each rate? 2020-11-27
If x is invested at 7%, then 22000−x is invested at 6%.
The annual return is $1420 so we can write: $$\displaystyle{0.07}{x}+{0.06}{\left({22000}−{x}\right)}={1420}$$ Solve for x: $$\displaystyle{0.07}{x}+{1320}−{0.06}{x}={1420}$$ $$\displaystyle{0.01}{x}+{1320}={1420}$$ $$\displaystyle{0.01}{x}={100}$$ $$\displaystyle{x}=\frac{{100}}{{0.01}}$$ $$\displaystyle{x}={10000}$$ So, the executive invested$10,000 at 7% and $12,000 at 6%. ### Relevant Questions asked 2020-10-23 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? (solve the equations/ inequalities for x) asked 2020-10-23 Chuck receives loans totaling$12,000 from two ba
. One bank charges 7.5% annual interest, and the second bank charges 6% annual interest. He paid $840 in total interest in one year. How much was loaned at each bank? asked 2021-01-13 Anonymous Anonymous Asked 10mths ago. A college student earned$8900 during summer vacation working as a waiter in a popular restaurant. Part was invested at 10% simple interest and the remainder at 6% simple interest. At the end of one year, the student had earned $674 interest. How much was invested at 10%? asked 2020-11-27 Using Matrices, solve the following: A practical Humber student invested 20,000 in two stocks. The two stocks yielded 7% and 11% simple interest in the first year. The total interest received was$1,880. How much does the student invested in each stock? ED Wong has total of Tk.70,000 invested in a common stock, corporate bonds, and municipal bonds. In order to limit risk, he has twice as much invested in corporate bonds as in stock. Last years, the common stock paid a 2% dividend, the corporate bonds paid 10% interest, and the municipal bonds paid 6% interest. ED’s total income last year from his investments was in Tk.4,800. How much has he invested in bonds?  Suppose $10,000 is invested at an annual rate of $$\displaystyle{2.4}\%$$ for 10 years. Find the future value if interest is compounded as follows asked 2020-10-28 Eric borrowed a total of$4000 from two student loans. One loan charged 5% simple interest and the other charged 4.5% simple interest, both payable after graduation. If the interest he owed after 3 years was $547.50, determine the amount of principal for each loan. asked 2020-11-16 herman always carries an inventory of between 60,000 and 80,000 at his store. herman's military antiques. his annual costs for carrying this inventory are 4% for storage, 6% for insurance, 3% for taxes, and 12% interest. what is the greatest possible carrying cost for hermans inventory asked 2021-02-02 Determine the algebraic modeling If you invest$8,600 in an account paying $$\displaystyle{8},{4}\%$$ annual interest rate, compounded continuously, how much money will be in the account at the end of 11 years?