Quote (Derkaderk @ Apr 29 2013 01:42pm)
Let x be the amount of money invested at 6%
Let y be the amount of money invested at 4%
Then x+y should equal the total amount invested - $38,000.
The product of the interest rates and the amounts invested should yield the yearly interest from both accounts - $2000.
You get:
x+y = 38000
.06x + .04y = 2000
I leave solving the system to you
Substitute: y = 38000 - x so that you only have one variable
.06x + 0.4 (38000 - x) = 2000 where x is the amount invested at 6%