Question is in description.

Question

Two investments totaling $23,500 produce an annual income of $795. One investment yields 2% per year, while the other yields 7% per year. How much is invested at each rate?

Answer 1

.02X + .07(23,500-X) = 795

.02X-.07X =795-.07(23,500)

.05X = 850

X=850/.05 = $17,000 invested at 2%

23,500-17000 = $16,500 invested at 7%