Solve the problem. See Example 4.Cookbook Royalties  Maliki Williams earned $48,000 from r...

Solve the problem. See Example 4.

Cookbook Royalties  Maliki Williams earned $48,000 from royalties on her cookbook. She paid a 28% income lax on these royalties. The balance was invested in two ways, some of it at 3.25% interest and some at 1.75%. The investments produced $904.80 interest per year. Find the amount invested at each rate.

EXAMPLE 4

SOLVING AN INVESTMENT PROBLEM