SOLUTION: Two investments totaling $32,500 produce an annual income of $1540. One investment yields 7% per year, while the other yields 4% per year. How much is invested at each rate?

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Question 970501: Two investments totaling $32,500 produce an annual income of $1540. One investment yields 7% per year, while the other yields 4% per year. How much is invested at each rate?
Answer by lwsshak3(11628) About Me  (Show Source):
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Two investments totaling $32,500 produce an annual income of $1540. One investment yields 7% per year, while the other yields 4% per year. How much is invested at each rate?
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let x=amt invested at 7% rate
32500-x=amt invested at 4% rate
..
7%x+4%(32500-x)=1540
.07x+1300-.04x=1540
.03x=240
x=8000
32500-x=24500
amt invested at 7% rate=$8,000
amt invested at 4% rate=$24,500