Question: Formulate but do not solve the problem. Michael Perez deposited a total of $2000 with two savings institutions. One pays interest at a rate of
Formulate but do not solve the problem. Michael Perez deposited a total of $2000 with two savings institutions. One pays interest at a rate of 6%/year, whereas the other pays interest at a rate of 8%/year. If Michael earned a total of $148 in interest during a single year, how much did he deposit in each institution? (Let x and y denote the amount of money, in dollars, invested at 6% and 8%, respectively.) = 148 = 2000
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