Money is invested at two rates of interest. One rate is 9% and the other is 4 %. If there is $1400 more invested at 9 % than at 4 %, find theamount invested at each rate if the total annual interest received is $880. Let x = amount invested at 9 % and y = amount invested at 4 %.Then the system that models the problem isx = y + 14000.09x +0.04y = 880.Solve the system by using the method of addition.

A system of two linear equations is given, which is as follows;…

Answered: Money is invested at two rates of…

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Systems Of Equations

Section11.CR: Review Problem Set

Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...

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Similar questions

Explain in your own words how to solve a system of equations using substitution.
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Translate to a system of equations and solve: Leon had $50,000 to invest and hopes to earn 6.2% interest per year. He will put some of the money into a stock fund that earns 7% per year and the rest in to a savings account that earns 2% per year. How much money should he put into each fund?
Translate to a system of equations and then solve: Charlie left his mother’s house traveling at an average speed of 36 miles per hour. His sister Sally left 15 minutes (1/4 hour) later traveling the same route at an average speed of 42 miles per hour. How long before Sally catches up to Charlie?
Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6 investment was 60 more than the income on the 4 investment. How much money did she invest at each rate?
Translate to a system of equations and then solve: A Mississippi river boat cruise sailed 120 miles upstream for 12 hours and then took 10 hours to return to the dock. Find the speed of the river boat in still water and the speed of the river current.
Translate to a system of equations and then solve: Mitchell left Detroit on the interstate driving south towards Orlando at a speed of 60 miles per hour. Clark left Detroit 1 hour later traveling at a speed of 75 miles per hour, following the same route as Mitchell. How long will it take Clark to catch Mitchell?
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