You invested $14,000 in two accounts paying 8% and 9% annual interest respectfully. If the total interest earned for the year was $1240, how much was invested at each rate

Answer 1

X+Y = 14000

0.08x + 0.09y = 1240

0.08x + 0.09 ( 14000 - x) = 1240

0.08x + 1260 - 0.09x = 1240

-0.01x = -20

x = 2000

y = 12000