Find the market price for the pair of supply and depand equations. Also find the demand.?

Question

I need help with this test review question.

A total of $40,000 was invested at two interest rates, 6% and 8 %. The total interest for the first year was $2,860. How much was invested at each rate?

I have other problems like this so please sho all of your steps. Thanks.

Answer 1

6% * x + 8% * (40,000 - x) = 2,860.

You can take it from there.

Equivalently,

.06x + .08y = 2860
x+y = 40000