SOLUTION: I am in a world of hurt, this is throwing me off. Janet invested $25,000 part at 5% and part at 2%. If the total interest at the end of the year $980, how much did she invest at

Algebra ->  Equations -> SOLUTION: I am in a world of hurt, this is throwing me off. Janet invested $25,000 part at 5% and part at 2%. If the total interest at the end of the year $980, how much did she invest at       Log On


   

Question 83490: I am in a world of hurt, this is throwing me off.
Janet invested $25,000 part at 5% and part at 2%. If the total interest at the end of the year $980, how much did she invest at 5%
A.$16,000
B.$9,000
C.$15,000
D.$17,000
please help
Answer by rapaljer(4671) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = amount invested at 5%

The rest of the money would be 25000-x. This is invested at 2% interest.
The total interest for the year is $980.

.05x + .02(25000-x) = 980
.05x + 500 - .02x = 980
.03x+500 -500 = 980-500
.03x= 480
%28.03x%29%2F.03=480%2F.03=+16000

x= $16000 at 5%
25000-x = $9000 at 2%

Check:
.05*16000 = $800
.02* 9000 = $180
Total Int: $980 it checks!!

R^2 at SCC