# 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
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