SOLUTION: I am struggling with this problem. Please help. Sam Barns worked as a waiter. He earned $15,000 which he wants to invest. He invested a certian amount in a savings account that

Question 24500: I am struggling with this problem. Please help. Sam Barns worked as a waiter. He earned $15,000 which he wants to invest. He invested a certian amount in a savings account that pays 5% simple intrest. He invested the balance in another account that pays 3.5% simple interest. The total amount on interest earned is $600. How much did Sam invest at 5% and 3.5%. Thamks for any help you can give.
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Let x = the amount Sam invested at 5%, then ($15,000-x) = the amount invested at 3.5%. Change the percentages to their decimal equivalents and set up the equation to solve for x.
Simplify and solve for x.
Combine like-terms.
Subtract 525 from both sides of the equation.
Divide both sides by 0.015

Sam invested $5,000 at 5% interest and $15,000 - $5,000 = $10,000 at 3.5% interest.
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