SOLUTION: Erica invested a total of $5,000, part at 3% simple interest and part at 4% simple interest. At the end of 1 year, the investment had earned $176 interest. How much was invested

Algebra ->  Human-and-algebraic-language -> SOLUTION: Erica invested a total of $5,000, part at 3% simple interest and part at 4% simple interest. At the end of 1 year, the investment had earned $176 interest. How much was invested       Log On


   



Question 345876: Erica invested a total of $5,000, part at 3% simple interest and part at 4% simple interest. At the end of 1 year, the investment had earned $176 interest. How much was invested at each rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
0.03x+0.04(5000-x)=176
0.03x+200-0.04x=176
-0.01x=-24
x=2400 at 3%
5000-2400=2600 at 4%