SOLUTION: Allison invested $2200 in two banks. At the first bank she had an interest rate of 4 1/2% and at the second bank the interest rate was 5 3/4%. If the interest obtained at teh end

Question 5163: Allison invested $2200 in two banks. At the first bank she had an interest rate of 4 1/2% and at the second bank the interest rate was 5 3/4%. If the interest obtained at teh end of the year was $107.75, how much was invested at 5 3/4%.
O.K. This one is killing me. The book's answer is $700.00
First I changed the into decimals. For 4 1/2 - 0.45 and 0.575
Then I tried to make a equations, by using the invested amount.
0.45x + (2000-X)0.575=107.75
0.45x + 1,150 - 0.575x = 107.75
0.125x = 1042.25
I am stumped. Am completely wrong? Please tell me what I am doing wrong.
Thank you

Answer by guapa(62) (Show Source): You can put this solution on YOUR website!
You are not completely wrong. You copied a wrong value from the question. The amount invested is $2200. You use $2000.
Furthermore, I would suggest that if you express % in decimals you divide by 100.
0.0575(x)+0.045(2200-x)=107.75
0.0575x + 99- 0.045x=107.75
0.0125x = 8,75
x = 700
RELATED QUESTIONS
allison invested $2200 in two banks. at the first bank she had an interest rate of 4 1/2... (answered by checkley77)

To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two... (answered by Boreal)

To buy a laptop computer, Aline wants to borrow $2000 for 3 years. She lives near two... (answered by mananth,MathTherapy)

Chuck receives loans totaling $12,000 from two banks. One bank charges 7.5% annual... (answered by richwmiller)

Last year Rachel invested money in two accounts. The first account had an interest rate... (answered by stanbon)

Ann Watson has $100,000 that she can deposit in any of three savings accounts for a... (answered by AnlytcPhil)

Joan saved $21,000 in two banks. One bank gives 4 3/5% annual interest, and the other... (answered by stanbon)

Mr. Agoncillo has at least php 150 000 deposited in two banks. one bank gives an annual... (answered by richwmiller)

Chuck receives loans totaling $12,000 from two banks. One bank charges 7.5% annual... (answered by mananth)