Question 1162519
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<pre>

Let x be the amount invested at 4.5%.

Then the amount invested at 3.5% is (1000000-x) dollars.


The equation for the total 1 year interest is


    0.045x + 0.035*(1000000-x) = 38000   dollars.


From the equation,


    x = {{{(38000-0.035*1000000)/(0.045-0.035)}}} = 300000.


<U>ANSWER</U>.  $300,000  invested at 4.5%  and  the rest,  $1,000,000 - $300,000 = $700,000  invested at  3.5%.


<U>CHECK</U>.  0.045*300000 + 0.035*700000 = 38000  dollars.   ! Precisely 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.