SOLUTION: Phyllis invested $9,500, a portion earning a simple interest rate of 8 1/5% per year and the rest earning a rate of 8% per year. After one year the total interest earned on these

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Question 948949: Phyllis invested $9,500, a portion earning a simple interest rate of
8 1/5% per year and the rest earning a rate of 8% per year. After one year the total interest earned on these investments was $777.00. How much money did she invest at each rate?
Answer by macston(5194) About Me  (Show Source):
You can put this solution on YOUR website!
X=invested amount at 8.2%; Y=invested amount at 8%
X+Y=$9500
X=$9500-Y
0.082(X)+0.08((Y)=$777.00 Substitute for X.
0.082($9500-Y)+0.08Y=$777.00
$779-0.082Y+0.08Y=$777.00 Subtract $779 from each side.
-0.002Y=-$2.00 Divide each side by -0.002
Y=$1000 ANSWER 1: $1000 was invested at 8%.
X=$9500-Y=$9500-$100=$8500 ANSWER 2: $8500 was invested as 8.2%
CHECK
0.082(X)+0.08((Y)=$777.00
0.082($8500)+0.08($1000)=$777.00
$697+$80=$777.00
$777.00=$777.00