Thread: Simple Interest problem

Please help me figure out this simple interest problem.

"Part of a $16,000 inheritance was invested at 13% annual simple interest and the rest was invested at 7% annual simple interest. At the end of one year the interest earned by the two investments was equal. How much was invested at 7%?"

Thank you for any help you can provide!!!!

let x = amount invested at 7%

16000 - x = amount invested at 13%

earned interest equal after 1 year ...

(7)x = (13)(16000 - x)

solve for x

Thank you very much Skeeter!! That makes sense.