SOLUTION: Sarah invested $5000 in two funds, paying 7% and 9% annual interest respectively. If the total interest earned for the year was $375, how much was invested at each rate?
Algebra.Com
Question 170396: Sarah invested $5000 in two funds, paying 7% and 9% annual interest respectively. If the total interest earned for the year was $375, how much was invested at each rate?
Found 2 solutions by stanbon, checkley77:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Sarah invested $5000 in two funds, paying 7% and 9% annual interest respectively. If the total interest earned for the year was $375, how much was invested at each rate?
---------------------------
Interest Equation: 0.07x + 0.09(5000-x) = 375 dollars
7x + 9(5000-x) = 37500
7x + 45000 -9x = 37500
-2x = -7500
x = $3750.00 (amt. invested at 7%
5000-3750 = $1250 (amt. invested at 9%)
=========================================
Cheers,
Stan H.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.09x+.07(5,000-x)=375
.09x+350-.07x=375
.02x=375-350
.02x=25
x=25/.02
x=$1,250 invested @ 9%.
5,000-1,250=$3,750 invested @ 7%.
Proof:
.09*1,250+.07*3,750=375
112.50+262.5=375
375=375
RELATED QUESTIONS
you invested 5000 in two accounts paying 4% and 7% annual interest, respectively. if the... (answered by checkley77)
if you invest $5000 between two accounts paying 7% and 9% annual interest, respectively.... (answered by addingup)
you invested $5000 between two accounts paying 7% and 9% annual interest, respectively.... (answered by ikleyn,greenestamps)
you invested $25,000 in two accounts paying 7% and 9% annual interest,respectively. If... (answered by richwmiller)
You invested 5000 between two accounts paying 3% and 8% annual interest, respectively. If (answered by macston)
You invested $18,000 in two accounts paying 5% and 7% annual interest, respectively. If... (answered by stanbon)
You invested 14,000 in two accounts paying 6% and 9% annual interest, respectively. If... (answered by rfer)
you invested $29,000 in two accounts paying 8% and 9% annual interest respectively. if... (answered by Maths68)
you invested $24000 in two accounts paying 5% and 9% annual interest, respectively. if... (answered by mananth)