SOLUTION: Kaufman Financial Corp. makes investments for corporate clients. It makes an investment of $3700 for one year at simple interest, yielding $297. Part of the money is invested at 7%

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Kaufman Financial Corp. makes investments for corporate clients. It makes an investment of $3700 for one year at simple interest, yielding $297. Part of the money is invested at 7%      Log On


   

Question 336519: Kaufman Financial Corp. makes investments for corporate clients. It makes an investment of $3700 for one year at simple interest, yielding $297. Part of the money is invested at 7% and the rest at 9%. How much was invested?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
Let A be the amount invested at 7%, B the amount invested in 9%.
1.A%2BB=3700
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%287%2F100%29A%2B%289%2F100%29B=297
2.7A%2B9B=29700
From eq. 1,
A=3700-B
Substitute into eq. 2,
7%283700-B%29%2B9B=29700
25900-7B%2B9B=29700
2B=3800
highlight%28B=1900%29
Then from eq. 1,
A%2B1900=3700
highlight%28A=1800%29
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$1800 invested at 7% and $1900 invested at 9%.