Question

What is $ at 5% What is $ at 10%

Answer 1

Let x be the total invested at 5% and y the total invested at 10%

Then we have:

I) x+y = $7000

II) 0.05x + 0.1y = $560

Firt, we multiply equation II by 20:

I) x+y = $7000

II) x + 2y = $11200

Now, we subtract equation I from equation II:

y = $4200

Therefore, x = $7000 - $4200 = $2800

Answer:

$2800 at 5%

$4200 at 10%