SOLUTION: Suppose that john invested a certain amount of money at 3% interest, and he invested $750 more than that amount at 5%. His total yearly interest was $157.50. How much did he invest

Question 715197: Suppose that john invested a certain amount of money at 3% interest, and he invested $750 more than that amount at 5%. His total yearly interest was $157.50. How much did he invest at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Amount @ 3.00% x
Amount @ 5.00% 1 x + 750
Total interest earned = 157.50

3.00% x+ 5.00% ( 1 x + 750 )= 157.5
3.00% x+ 5.00% * 1 x + 37.5 = 157.5
3.00% x+ 5.00% x + 37.5 = 157.5
0.03 x+ 0.05 x = 120
0.08 x = 120
x= 1500 Amount @ 3.00%
=
Amount @ 5.00% = 1 * 1500 + 750
= 2250

CHECK Total interest
45 + 112.5 = 157.5

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