SOLUTION: An executive invests $23,000, some at 6% and some at 4% annual interest. If he receives an annual return of $1,320, how much is invested at each rate?

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Question 785325: An executive invests $23,000, some at 6% and some at 4% annual interest. If he receives an annual return of $1,320, how much is invested at each rate?
Answer by xinxin(76)   (Show Source): You can put this solution on YOUR website!
Assume the person invests $x at 6% interest, $y at 4%,
Solved by pluggable solver: Linear System solver (using determinant)
Solve:


Any system of equations:


has solution

or



(x=20000, y=3000}
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