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Math

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Althea invested $10,000 for one year, part at 7% and part at 6 1/4%. If she earned a total interest of
$656.50, how much was invested at each rate?

  • Math - ,

    x = amount at 7%
    y = amount at 6.25%

    x + y = 10,000 or x = 10,000 - y
    .07x + .0625y = 656.50

    You can solve by substitution:

    .07(10,000 - y) +.0625y = 656.50

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