Problema Solution
A total of $11,000 was invested. Part of the $11,000 was invested at 4%, and the rest was invested at 7%. If the investments earn $680 per year, how much was invested at each rate?
Answer provided by our tutors
0.04x + 0.07(11000-x) = 680
0.04x + 0.07(11000) - 0.07x = 680
find x
x = 3000
at 4%, 3000 dollars was invested
at 7%, 8000 dollars was invested