Question 1133346
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<pre>
7% of x plus 8% of (57500 -x) is equal to the total annual income of $4245.


It is your equation


   0.07*x + 0.08*(57500-x) = 4245


Simplify and solve for x:


    x = {{{(4245 - 0.08*57500)/(0.07 - 0.08)}}} = one click in Excel = 35500.


<U>Answer</U>.  $35500 was invested at 7% and the rest,  57500 - 35500 = 22000 dollars was invested at 8%.


<U>CHECK</U>.   0.07*35500 + 0.08*22000 = 4245 dollars.   ! Correct !
</pre>

Solved.


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It is a standard and typical problem on investments.


If you need more details,  &nbsp;or if you want to see other similar problems solved by different methods, &nbsp;look into the lesson 

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/coordinate/lessons/Using-systems-of-equations-to-solve-problems-on-investment.lesson>Using systems of equations to solve problems on investment</A>

in this site.


You will find there different approaches &nbsp;(using one equation or a system of two equations in two unknowns), &nbsp;as well as 
different methods of solution to the equations &nbsp;(Substitution, &nbsp;Elimination).


Also, &nbsp;you have this free of charge online textbook in ALGEBRA-I in this site

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson>ALGEBRA-I - YOUR ONLINE TEXTBOOK</A>.


The referred lesson is the part of this online textbook under the topic &nbsp;"<U>Systems of two linear equations in two unknowns</U>".



Save the link to this online textbook together with its description


Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson


to your archive and use it when it is needed.