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Whitney invested $23,000, part at 2% and part at 12%. If the total interest at the end of the year is $1,260, how much did she invest at 2%?

2007-09-03 06:35:47 · 2 answers · asked by ray 1 in Science & Mathematics ➔ Mathematics

0.12x+0.02y =1260
x+y = 23,000 so x= 23,000-y and
0.12*23,000-0.12y +0.02y = 1260
so 0.10y = 1500 and y= $ 15,000

2007-09-03 06:49:05 · answer #1 · answered by santmann2002 7 · 0⤊ 0⤋

x at 2%
23000-x at 12%
.02x+.12(23000-x)=1260
.02x +2760-.12x=1260
-.10x=1260-2760
.10x=1500
x=15000
$15000 got invested at 2%

2007-09-03 07:03:59 · answer #2 · answered by Grampedo 7 · 0⤊ 0⤋