Amount invested

Question

the given amount of annual interest is earned from a total of $11,000 invested in two funds paying simple interest. write and solve a system of equations to find the amount invested at each given rate.

annual interest: $400

invested at 3% and 4%

Answer 1

X+y = 11000

0.03x + 0.04y = 400

0.03x + 0.04(11000 - x) = 400

0.03x + 440 - 0.04x = 400

-0.01x = -40

x= 4000

y = 7000