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Posted by on Friday, September 7, 2012 at 4:57pm.

HELP! Please
Calvin invested $7500 for one year, part 12% annual interest and the rest at 10% annual interest. His total interest for the year was $890. How much money did he invest at 12%? Show work.

  • algebra - , Saturday, September 8, 2012 at 10:06pm

    $X @ 12%.
    $(7500-X) @ 10%

    I = 0.12X + 0.1(7500-X) = $890.
    0.12x + 750 - 0.1x = 890.
    02x = 890 - 750 = 140
    X = $7,000 @ 12%.

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