I am having trouble setting up this problem in order to solve it. If anyone could show me how to set it up I would be extremely thankful.
Joe has $6500 to invest. Part of this will be invested in a savings account yielding 4% and part in a municipal bond yielding 7.5%. If he earns $438.50 each year in interest, how much will he invest in each account?
Joe has $6500 to invest. Part of this will be invested in a savings account yielding 4% and part in a municipal bond yielding 7.5%. If he earns $438.50 each year in interest, how much will he invest in each account?