Asked by Anonymous

Phyllis invested 55000 dollars, a portion earning a simple interest rate of 4 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 2830 dollars. How much money did she invest at each rate?

2380-x= 7%
r=0.07 r=0.04
t=1 t=1
p=x p=2830-x

x(0.07)*1+(2830-x)(0.04)=55000
7x+4.528-0.04x=55000
3x+4.528=55000 / 3x
x=16.824

Please help.
Answered by bobpursley
x+y=55000
.04x+.07y=2830
x(0.07)*1+(55000-x)(0.04)=2830

Now solve as you did above.
Answered by Anonymous
7x+2,000-4x=2830
3x=5030/3
x=1,676 ?
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