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September 19, 2014

Homework Help: algebra

Posted by Tony on Sunday, March 25, 2007 at 9:51pm.

I invest $14,000, part is 15% and part is 2% if the total interest at the end of the year is $1060, how much did I invest at 15%

I think you mean that part (let'say x) earns 15% and the rest earns 2%

Solve thes two equations simultaneously:
x + y = 14,000
0.15 x + 0.02 y = 1060

0.15 x + 0.15 y = 2100
(I multiplied the first equation by 0.15)
0.13 x = 1040
I subtracted the second equation from the third)
Now finish it

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