Question 26422
Let amount invested at 5% be "x".
The amount invested at 7% is "x+500"
EQUATION:
Interest + Interest= $515
0.05x + 0.07(x+500)=515
Multiply through be 100 to get:
5x+7x+3500=51500
12x=48000
x=4000 (amount invested at 5%
x+500=4500 (amount invested at 7%)
Cheers,
Stan H.