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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 the amount invested at each rate if the total annual interest received is $880. Let x = amount invested at 9 % and y = amount invested at 4 % x = y + 1400 Then the system that models the problem is Solve the system by using the method of addition. 0.09x + 0.04y = 880

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 the amount invested at each rate if the total annual interest received is $880. Let x = amount invested at 9 % and y = amount invested at 4 % x = y + 1400 Then the system that models the problem is Solve the system by using the method of addition. 0.09x + 0.04y = 880

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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 the amount 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 is x = y + 1400 0.09x +0.04y = 880 .Solve the system by using the method of addition.
Transcribed Image Text: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 the amount 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 is x = y + 1400 0.09x +0.04y = 880 .Solve the system by using the method of addition.
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