SOLUTION: Jan Moser made a deposit into a 5% annual simple interest account. She made another deposit, $2500 less than the first, in a certificate of deposit earning 7% annual simple interes

Question 1070141: Jan Moser made a deposit into a 5% annual simple interest account. She made another deposit, $2500 less than the first, in a certificate of deposit earning 7% annual simple interest. The total interest earned on both investments for one year was $353. How much money was deposited in the certificate of deposit?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
The amount at 5%: x
The amount at 7%: x-2500
Total interest earned in 1 year: 353
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0.05x+0.07(x-2500) = 353
0.05x+0.07x-175 = 353
0.12x = 528
x = 4400 this is the amount at 5%
The amount at 7% = 4400-2500 = 1900
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Check:
4400*0.05 = 220
1900*.07 = 133
Total . . = 353 Correct

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