SOLUTION: Henry invest money in two plans. He invest three-fifths of the money in an account at a return rate of 7%. He invests the remainder of the money in an account with a return rate of

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Question 571145: Henry invest money in two plans. He invest three-fifths of the money in an account at a return rate of 7%. He invests the remainder of the money in an account with a return rate of 3%. I f the total intrest earned in one year for the investments is $54.00, how much was invested in each plan. i made a chart that says account, rate, principal, and intrest
under account i have first account and second account. under rate i have 0.07 and 0.03. and under principal i have 3/5p but my problem is i dont know how to find 0.03's principal. so for 0.07 in the intrest box i have 0.07*3/5p.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
If p= principle
+%283%2F5%29%2Ap+ is invested @ 7%
+%282%2F5%29%2Ap+ is invested @ 3%
Note that +%283%2F5%29%2Ap+%2B+%282%2F5%29%2Ap+=+p+
as it should
given:
+.07%2A.6%2Ap+%2B+.03%2A.4%2Ap+=+54+ ( I used decimals instead of fractions )
+.042p+%2B+.012p+=+54+
+.054p+=+54+
+p+=+54%2F.054+
+p+=+1000+
+%283%2F5%29%2A1000+=+600+
$600 was invested @ 7%
+%282%2F5%29%2A1000+=+400+
$400 was invested @ 3%