SOLUTION: mr brand invested $7000, part at 8% and the rest at5% His total annual income from these investment was $500 find the amount invested at each rate

Question 694620: mr brand invested $7000, part at 8% and the rest at5% His total annual income from these investment was
$500 find the amount invested at each rate
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Hint:

x+y = 7000

y = 7000 - x

---------------------------

0.08x + 0.05y = 500

8x + 5y = 50000

8x + 5(7000 - x) = 50000

Solve for x and then use this to solve for y.
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