Larry Mitchell invested part of his $29,000 advance at 2% annual simple interest and the rest at 6% annual simple interest. If his total yearly interest from both accounts was $1,220, find the amount invested at each rate. The amount invested at 2% is $ The amount invested at 6% is $

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Systems Of Equations
Section11.CR: Review Problem Set
Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...
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Larry Mitchell invested part of his $29,000 advance at 2% annual simple interest and the rest at 6% annual simple interest. If his total yearly interest from both
accounts was $1,220, find the amount invested at each rate.
The amount invested at 2% is $
The amount invested at 6% is $
Transcribed Image Text:Larry Mitchell invested part of his $29,000 advance at 2% annual simple interest and the rest at 6% annual simple interest. If his total yearly interest from both accounts was $1,220, find the amount invested at each rate. The amount invested at 2% is $ The amount invested at 6% is $
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