Miss Beasley invested $10,000 for one year, part at 10% annual interest and part at 14% annual interest his total intrest for the year was $1,280 How much money did he invest at each rate.

Question

Please Help me ;-;

Answer 1

Let x dollars be the amount invested at 10%, then the amount invested at 14% is 10000-x dollars.

Accumulated interest after one year is 0.10x+0.14(10000-x)=1280.

We can solve for x. 0.10x+1400-0.14x=1280; 120=0.04x, x=120/0.04=12000/4=$3000, the amount invested at 10%.

So the amount invested at 14% is 10000-3000=$7000.