Question

Rajiv Puri invested part of his $20,000\$ 20,000 inheritance in a mutual fund account that pays 7%7 \% simple interest yearly and the rest in a certificate of deposit that pays 9%9 \% simple interest yearly. At the end of one year, Rajiv's investments earned $1550\$ 1550. Find the amount he invested at each rate.

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The goal of this task is to find the amount Rajiv Puri invested at 22 different rates. Is is given that he invested part of his $20,00020,000 in a fund that pays 7%7\% simple interest yearly and the rest in a certificate of deposit that pays 9%9\% simple interest yearly. At the end of one year, his investments earned $1550\$1550.

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