Question

Larry Mitchell invested part of his $14,000 cash advance at 4% annual simple interest and the rest at 7% annual simple interest. If his total yearly interest from both accounts was $620, find the amount invested at each rate.

Larry Mitchell invested part of his $14,000 advance at 4 accounts was $620, find the amount invested at each rat The amount invested at 4% is $ The amount invested at 7% is $

Answer 1

Let use divide 4000 ito -tvo poots R and Then B+B=14000-9( The Simple leYesrLi on invesHng af φ B coit 4% rate of inerest -for one deoy 3 interest -for one yeaY 100 Since Ti+12-620 4B-t 7 P2-62000 → (2) フ Fiom ci and (2) Thos, the amount ïnvestod at 47. 朗声12000 toe amount investod at 7% $'Q000