Using simple interest, it is found that:
- $10,500 was invested at 2%.
- $39,000 was invested at 4%.
<h3>Simple Interest</h3>
Simple interest is used when there is a single compounding per time period.
The interest after t years in is modeled by:
In which:
- r is the interest rate, as a decimal.
In this problem, considering that there are two investments:
- A total of $49,500 was invested, hence .
- One investment yields 2% and the other yields 4%, hence the rates are .
- The annual income is of $1770, hence .
Considering the rates, we have that:
Considering that :
Adding the equations:
Considering that , we have that:
Hence:
- $10,500 was invested at 2%.
- $39,000 was invested at 4%.
You can learn more about simple interest at brainly.com/question/25296782