SOLUTION: Ron invested some money at 5% and $500 more at 7%. His total annual interest income was $215. How much did Ron invest at 5% ?

SOLUTION: Ron invested some money at 5% and $500 more at 7%. His total annual interest income was $215. How much did Ron invest at 5% ?

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Question 487187: Ron invested some money at 5% and $500 more at 7%. His total annual interest income was $215. How much did Ron invest at 5% ?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
.05(n)+.07(n+500)=215
5n+7n+3500=21500
12n=18000
n=1500
Ron invested $1500 at 5%, and $2000 at 7%..
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