SOLUTION: Phyllis invested 33000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest

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Question 353510: Phyllis invested 33000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 2090 dollars. How much money did she invest at each rate?
Found 2 solutions by mananth, robertb:
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Phyllis invested 33000 dollars,
portion 5 % - $x
rest at rate of 7% .... 33000-x
Interest earned = 2090 dollars.
...
0.05x+0.07(33000-x)=2090
0.05x +2310-0.07x =2090
-0.02x=2090-2310
-0.02x=-220
x= -220/-0.02
x=$22000 invested @5%
Balance $11000 @7%
...
m.ananth@hotmail.ca

Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = portion earning at 5% per year.
Then 33000 - x = portion earning at 7%.
Then 0.05%2Ax%2B0.07%2A%2833000+-+x%29=2090, the total interest after 1 year.
0.05x%2B2310-0.07x+=+2090,
-0.02x+=+-220,
x+=+%28-220%29%2F%28-0.02%29
x+=+11000 is the investment at 5%, and
33000+-+11000+=+22000 is the investment at 7%.