.06x+.08y=520
x+y=7000
solve for either the x or y in the x+y=7000 problem:
y=7000-x
now subsitute your new equation in for y:
.06x+.08(7000-x)=520
now solve:
.06x+560-.08x=520
-560 -560
.06x-.08x=-40
-.02x=-40
-.02 -.02
x=2000
then plug x into your x+y=7000 equation:
2000+y=7000
y=5000
SOOO, x=2000 @ 6%, y=5000 @8%
$4,500
2,400
72
523.97
635.61
$4,500
2,400
696,00
$2,500 is your answer
$2400
4000
Two equations. x+y=56000 .07x=.05y Solve both of these equations simultaneously and it will be the answer. x+(.07/.05 x)=56000
72
The answer depends on the rate of interest.
2.5 years
T = 3yrs
3125