Question 1141702
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<pre>
Let x dollars be your investment at 7%;

then the investment at 3% is the rest (1000-x) dollars.


The total interest equation is

    0.07x + 0.03*(1000-x) = 0.061*1000.


Express x and calculate

    x = {{{(0.061*1000-0.03*1000)/(0.07-0.03)}}} = 775.


<U>ANSWER</U>.  $700 is the 7% investment;  the rest, (1000-775) = 225 dollars is the 3% investment.


<U>CHECK</U>.   0.07*775 + 0.03*225 = 61 dollars = 6.1% of $1000.    ! Correct !
</pre>

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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.