Interest Problems

[mikebrown]

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?

 

[stapel]

If anyone could show me how to set it up....

Fortunately, there are loads of online lessons which provide explanations and worked examples, to supplement what you've already got in your book and in your class notes. Try starting here.