Business Solve the following investment problems. (See Example.)Joe Gonzalez received $52,...

Business Solve the following investment problems. (See Example.)

Joe Gonzalez received $52,000 profi t from the sale of some land. He invested part at 5% interest and the rest at 4% interest. He earned a total of $2290 interest per year. How much did he invest at 5%?

Example

Finance A fi nancial manager has $15,000 to invest for her company. She plans to invest part of the money in tax-free bonds at 5% interest and the remainder in taxable bonds at 8%. She wants to earn $1020 per year in interest from the investments. Find the amount she should invest at each rate.