SOLUTION: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?
Algebra.Com
Question 439602: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
x+y=5000
.03x+.05y=210
Multiply the second equation by 100:
3x+5y=21000
3x+3y=15000
2y=6000
y=3000
x=2000
$2000 was invested at 3%, $3000 at 5%..
RELATED QUESTIONS
Investments: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the... (answered by jorel1380)
A total of $5000 is invested at 3% and 5% annual interest. After 1 year, the total... (answered by mananth)
A total of $2,600 is invested at 6% and
4% annual interest. After 1 year the total... (answered by ankor@dixie-net.com)
If Ben invests $5000 at 5% interest per year, how much additional money must he
invest... (answered by checkley71,ankor@dixie-net.com)
If bonnie invests $24,000 at 3% interest per year, how much additional money must she... (answered by Mathtut)
A total of $5000 is invested: part at 7% and the remainder at 12%. How much is invested... (answered by srinivas.g)
If Ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by stanbon)
If ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by checkley71)
If Ben ivests $4000 at 4% interest per year,how much additional money must he invest at 5 (answered by ankor@dixie-net.com)