Problema Solution
A total of $7000 is invested part at 5% and the reminder at 10% how much is invested at this rate if the annual interest is $560
Answer provided by our tutors
Let
x = amount invested at 5%
y = amount invested at 10%
The total invested is $7000 means
x + y = 7000
Since the annual interest is $560 we can write
0.05x + 0.10y = 560
We need to solve the following system of equations
x + y = 7000
0.05x + 0.10y = 560
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Click here to see the step by step solution
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x = $2,800
y = $4,200
$2,800 is invested at 5% and the rest, $4,200 at 10%.