Nico is saving money for his college education. He invests some money at 8% and $1400 less then the amount at 7%. The investments produced a total of $217 interst in one yeat. How much did he knvest at each rate?

So far I have
0.08 (1400)(0.07)

try this

(.08 * x) + [.07 * (x - 1400)] = 217

To solve this problem, let's set up an equation based on the given information.

Let's say Nico invested an amount x at 8% and (x - 1400) at 7%.

The interest earned from the 8% investment would be 0.08x, and the interest earned from the 7% investment would be 0.07(x - 1400).

According to the problem, the total interest earned from both investments is $217. So we can set up the equation:

0.08x + 0.07(x - 1400) = 217

Now, let's solve this equation step by step.

0.08x + 0.07x - 98 = 217 (distribute 0.07 to x and -1400)
0.15x - 98 = 217 (combine like terms: 0.08x + 0.07x = 0.15x)
0.15x = 217 + 98 (add 98 to both sides)
0.15x = 315

Now, let's solve for x by dividing both sides of the equation by 0.15:

x = 315 / 0.15
x = 2100

So Nico invested $2100 at 8%.

Now, to find the amount invested at 7%, we can substitute the value of x into the equation:

x - 1400 = 2100 - 1400 = 700

So Nico invested $700 at 7%.

Therefore, Nico invested $2100 at 8% and $700 at 7%.