The given amount of annual interest is earned from a total of $14,000 invested in two funds paying simple interest.

Question

Write and solve a system of equations to find the amount invested at each given rate.

Annual interest: $520

Invested at 2%: $

Invested at 5%; $

Answer 1

x + y = 14000

0.02x + 0.05y = 520

So, 0.02x + 0.05(14000 - x) = 520

Solve for x and y.