Word Problem: Dana invested $10K, some at 10% and some at...

[megan0430]

Dana invested $10,000. Part of the money was invested at 10% and the remainder at 14%. The total yearly income from these investments was $1220. How much was invested at 14%?

 

[Mrspi]

Re: Word Problem!!

Dana invested $10,000. Part of the money was invested at 10% and the remainder at 14%. The total yearly income from these investments was $1220. How much was invested at 14%?

Let x = amount invested at 14%

There was a total of $10,000 invested, so 10000 - x would be the amount invested at 10%.

The interest earned in one year on x dollars invested at 14% would be 0.14x.
The interest earned in one year on (10000 - x) dollars invested at 10% would be 0.10(10000 - x)

The total income was $1220....so,

0.14x + 0.10(10000 - x) = 1220

Now, solve for x.....

I hope this helps you.