A total of $54,250 is to be invested, part at 5.370% annual interest and the rest at 6.720% annual interest. How much is invested at each rate to provide an annual interest income of $3,100?
This can must easily be solved as a system of equations
your first equation will be
Now plug this in the other equation
Solving for y you will find 13835.2
x will then be equal to 40414.82
You must round money to the hundredth place which is why the answer doesn’t perfectly add up to 54250.