SOLUTION: Jen invested 20000 part in bonds that paid 3% per annum and the remainder in term deposits that paid 5% per annum. the total interest earned after one year was 5760. how much did

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Jen invested 20000 part in bonds that paid 3% per annum and the remainder in term deposits that paid 5% per annum. the total interest earned after one year was 5760. how much did      Log On

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Question 1143318: Jen invested 20000 part in bonds that paid 3% per annum and the remainder in term deposits that paid 5% per annum.
the total interest earned after one year was 5760.
how much did she invest at each rate?

Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!

if all of the money was invested at 3%, then the annual interest, based on the principal, would be .03 * 20,000 = 600.

if all of the money was invested at 5%, then the annual interest, based on the original principal, would be .05 * 20,000 = 1,000.

therefore, the annual interest has to be somewhere between 600 and 1000 if the original investment is equal to 20,000.

looks like your problem has not been identified correctly.

either there's a problem with the interest earned or there's a problem with the amount of the original investment, or possibly a problem with the interest rates for each investment.

look at your problem again and see if you have determined it correctly.