2. Fran invested $700 in two funds that pay 6% and 5.5% annual interest. Fran's combined annual interest is $40.50. How much of the $700 was invested in each fund?
1. Write the "question" here: how much of the $700 was invested in each fund?
2. How many things are you being asked to find? One, tyro, more than two
3. Label the variables. Let x represent: Let y represent:
4. We know that Fran invested a total of $700, i. e. "total amount invested = 700".
Translate this statement into an algebraic equation:
Now translate the statement "total interest = 40.50" into an algebraic equation. (Keep in mind
that interest comes from interest rate times amount invested)
5. Write the two equations below and solve the system.
&
6. Use your solution to the system to answer the question you wrote in #1. (In English!) Fran
invested