SOLUTION: An executive invests $28,000, some at 8% and some at 4% annual interest. If he receives an annual return of $1,720, how much is invested at each rate?

Question 942569: An executive invests $28,000, some at 8% and some at 4% annual interest. If he receives an annual return of $1,720, how much is invested at each rate?
Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
x = dollar amount invested at 8%
y = dollar amount invested at 4%
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x + y = 28000
0.08x + 0.04y = 1720
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put the system of linear equations into standard form
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x + y = 28000
0.08x + 0.04y = 1720
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copy and paste the above standard form linear equations in to this solver:
https://sooeet.com/math/system-of-linear-equations-solver.php
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solution:
x = 15000
y = 13000
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