Two equations.
x+y=56000
.07x=.05y
Solve both of these equations simultaneously and it will be the answer.
x+(.07/.05 x)=56000
$2,500 is your answer
$2400
4000
The answer depends on the rate of interest.
T = 3yrs
$4,500
2,400
696,00
$2,500 is your answer
$2400
4000
The answer depends on the rate of interest.
72
T = 3yrs
2.5 years
3125
d 2.5 years