A total of $8000 is invested: part at 5% and the remainder at 13%. How much is invested at each rate if the annual interest is $730?

Question

need 5% and 13%

Answer 1

X + y = 8000

0.05x + 0.13y = 730

0.05x + 0.13 (8000 - x) = 730

0.05 x + 1040 - 0.13 x - 730

-0.08x = -310

8x = 31000

x = 3875

y = 4125

(0.05)(3875) + (0.13)(4125) = 193.75 + 536.25 = 730

3875 in 1st account

4125 in 2nd account