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John invests a total of $20,000, part at 10% and part at 12%. His total for one year is $2160. How much is invested at each rate?

Question

John invests a total of $20,000, part at 10% and part at 12%. His total for one year is $2160. How much is invested at each rate?

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Step 1

Let the amount John invests at 10% = x

Let the amount John invests at 12%=y

Formulating equations:

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Step 2

Multiplying first equation by 0...

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Algebra

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