2. Fran invested $700 in two funds that pay 6% and 5.5% annual interest. Fran’s combined annual interest is $40.50. How much of the $700 was invested in each fund? 3. Label the variables. Let x represent: Let y represent:
4. We know that Fran invested a total of $700, i. e. “total amount invested = 700”.
Translate this statement into an algebraic equation: Now translate the statement “total interest = 40.50” into an algebraic equation. (Keep in mind that interest comes from interest rate times amount invested) 5. Write the two equations below and solve the system. 6. Use your solution to the system to answer the question you wrote in #1. (In English!) Fran invested