How much was invested at each​ rate? Complete the following​ table, letting x= the number of dollars invested at 7​% and y=the number of dollars invested at 9%.

Question

A financial services company invested a​ person's IRA contribution of

​$3900 for one year at simple​ interest, yielding

​$313. Part of the money is invested at 7% and the rest at 9​%.

How much was invested at each​ rate? Complete the following​ table, letting

x= the number of dollars invested at 7​% and y=the number of dollars invested at 9%.

Answer 1

X+Y = 3900, so Y = 3900-x

0.07x + 0.09(3900 - x) = 313

0.07x + 351 - 0.09x = 313

-0.02x = -38

2x = 3800

x = 1900

y = 2000