SOLUTION: The annual interest income on two investments is $79. Of the two investments, $200 more was invested at 5.5% than at 3%. How much was invested at 3%

Algebra ->  Finance -> SOLUTION: The annual interest income on two investments is $79. Of the two investments, $200 more was invested at 5.5% than at 3%. How much was invested at 3%      Log On


   

Question 1094231: The annual interest income on two investments is $79. Of the two investments, $200 more was invested at 5.5% than at 3%. How much was invested at 3%
Answer by ikleyn(52788) About Me  (Show Source):
You can put this solution on YOUR website!
.
Let x be the smaller investment, in dollars.

Then the larger investment is x+200 dollars.


Your equation (from the condition) is

0.03*x + 0.055*(x+200) = 79.


Multiply by 1000 both sides to get

30x + 55x + 11000 = 79000  ====>

85x = 79000-11000 = 68000  ====>  x = 68000%2F85 = 800.


Answer.  $800 was invested at 3%  and  800+200 = $1000 was invested at 5.5%.

Solved.