Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%?
Use this chart that I've made fora nearly identical problem.
a+b=20,000 -> b=20,000 - a (substitute this for b)
.14a+.13(20,000 - a) = 2720
solve for a
.14a+2600 - .13a=2720
you do 0.14x+0.13(20000-x)=2720
simplify and add like terms.
minus 2600 from both sides (simplify)
Bob invested $12,000 at 14% and $8,000 at 13%
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