Solve the problem. You inherit $56,000 from a very wealthy grandparent, with the stipulation that for the first year, the money must be invested in two stocks paying 4% and 10% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $3200?
10.Write a system of two equations in two variables to solve the problem.
In investing $6,100 of a couple's money, a financial planner put some of it into a savings account paying 6% annual simple interest. The rest was invested in a riskier mini-mall development plan paying 12% annual simple interest. The combined interest earned for the first year was $570. How much money was invested at each rate?