SOLUTION: a man invested $3,500, part of it at a yearly rate of 4% and the rest at 5%. He received a total annual interest of $153. How much did he invest at each rate?

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Question 883311: a man invested $3,500, part of it at a yearly rate of 4% and the rest at 5%. He received a total annual interest of $153. How much did he invest at each rate?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
1.X%2BY=3500
.
.
.
0.04X%2B0.05Y=153
2.4X%2B5Y=15300
Multiply eq. 1 by -4 and add to eq. 2,
-4X-4Y%2B4X%2B5Y=-14000%2B15300
Y=1300
Then from eq. 1,
X=3500-1300
X=2200