Portion earning a simple interest rate

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Jo invested $63,000. A portion earning a simple interest rate of 5% per year and the rest earning a rate of 7% per year. After one year the total interest earned on these investments was 3890 dollars. How much money did he invest at each rate?

Reference no: EM13787824

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Portion earning a simple interest rate : Jo invested $63,000. A portion earning a simple interest rate of 5% per year and the rest earning a rate of 7% per year. After one year the total interest earned on these investments was 3890 dollars. How much money did he invest at each rate?

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