sue has $11,000 to invest in two accounts

Question

sue has 11000 to invest in two accounts pating 7% Interest and 4% interest. If she want an income of $680, How much should she invest in each account?

Answer 1

a + b = 11,000 ----> a = 11,000 - b

.07a + .04b = 680

 

.07(11,000 - b) + .04b = 680

770 - .07b + .04b = 680

.03b = 90

b = 3000

 

a = 11,000 - 3000 = 8000