Question 1152592
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Let x be an amount invested at 7%.


Then the amount invested at 3% is the rest  7000-x dollars.


The total interest is the sum of partial interests


    0.07x + 0.03*(7000-x) = 262.


From the equation


    x = {{{(262-0.03*7000)/(0.07-0.03)}}} = 1300.


<U>ANSWER</U>.  $1300 was invested at 7%, and the rest,  7000-1300 = 5700 dollars, invested at 3%.


<U>CHECK</U>.  0.07*1300 + 0.03*5700 = 262 dollars.   ! Precisely correct !
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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.