Question

Phyllis invested $12,000, a portion earning a simple interest rate of 6 1 5 % per year and the rest earning a rate of 6% per year. After 1 year the total interest earned on these investments was $736. How much money did she invest at each rate?

Answer 1

x+y=12000

y=12000-x

(x)(.0615)+y(.06)=12736

x(.0615)+(12000-x)(.06)=12736

Let me know if you need more help. This is a system of equations problem I believe.