Section 1.3 1c. You inherited $5000 with the stipulation that for the le. You invested $7000 in two accounts paying 6% first year the money had to be invested in two funds and 8% annual interest. If the total interest earned paying 9% and 1 1% annual interest. How much did for the year was $520, how much was invested at you invest at each rate if the total interest earned for the year was $487? each rate? Let x = the amount invested at 9%. Since a total of $5000 is invested, 5000 - x is invested at 11%. Note that x + (5000 - x) = 5000. The interest on the amount invested at 9% is 0.09x, using I = Pr. The interest on the amount invested at 1 1 % is 0.11(5000 - x). The total interest is 487. 0.09x +0.11(5000- x) = 487 0.09x+550-0.1 1x = 487 -0.02x+550=487 -0.02x =-63 -0.02.x -63 -0.02 -0.02 x = 3150 5000 - x = 5000 - 3150 = 1850 $3150 was invested at 9%, and $1850 was invested at 11%. You should verify that the resulting interest is $487