SOLUTION: Investments: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Investments: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 432586: Investments: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
The total of the investments is $5000, thus x+y=5000:
x+y=5000
.03x+.05y=210
Multiply the second equation by 100--
3x+5y=21000
5x+5y=25000
-----------
2x=4000
x=2000
y=3000
=============
$2000 was invested at 3%, 3000 was invested at 5%.