An executive invests $25,000, some at 7% and the rest at 4% annual interest. if he receives an annual return of 1,390, how much is invested at each rate

$13,000 at 7% and $12,000 at 4%

Step-by-step explanation:

Use formula:

where

I = interest,

P = principal,

r = rate (as decimal),

t = time (in years)

7% rate:

P = $x

r = 0.07

t = 1 year

Then

4% rate:

P = $(25,000 - x)

r = 0.04

t = 1 year

Then

If he receives an annual return of $1,390, then

so

60

step-by-step explanation:

$9.41

step-by-step explanation: