An executive invests $23,000, some at 8% and some at 4% annual interest. If he receives an annual re

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An executive invests $23,000, some at 8% and some at 4% annual interest. If he receives an annual return of $1,560, how much is invested at each rate?

Let x be the amount invested at 8% and y be the amount invested at 4%. We have two equations:

1. x + y = 23,000
2. 0.08x + 0.04y = 1,560

Using our system of equations calculator, we get:
x = 16,000
y = 7,000