Business Solve the following investment problems. (See Example.)Weijen Luan invests $20,00...

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

Weijen Luan invests $20,000 received from an insurance settlement in two ways: some at 6% and some at 4%. Altogether, she makes $1040 per year in interest. How much is invested at 4%?

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.