SOLUTION: Phyllis invested 60000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interes

Question 1103192: Phyllis invested 60000 dollars, a portion earning a simple interest rate of
5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was
3420 dollars. How much money did she invest at each rate?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = interest earned @ 5%
= interest earned @ 7%
Let = Amount invested @ 5%
= amount invested @ 7%
-----------------------------------------

(1)
(2)
---------------------------------------
Plug (1) into (2)
(2)
(2)
(2)
and

------------------------------
She invested $39,000 @ 5% and
$21,000 @ 7%
------------------------------
check:
(1)
(1)
and
(2)
(2)
(2)
OK

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