SOLUTION: A part of $10,000 is invested at 4% and the remaining amount at 3 1/2%.The annual income both is $380.Find the amount of each investment?

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Question 630993: A part of $10,000 is invested at 4% and the remaining amount at 3 1/2%.The annual income both is $380.Find the amount of each investment?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A part of $10,000 is invested at 4% and the remaining amount at 3 1/2%.The annual income both is $380.Find the amount of each investment?
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Equations:
value: x + y = 10,000
interest: 0.04x + 0.035y = 360
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Modify:
40x + 40y = 40"10,000
40x + 35y = 360,000
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5y = 40,000
y = 8000 (amt. invested at 3.5%
x = 2000 (amt. invested at 4%
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Cheers,
Stan H.