SOLUTION: 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?
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Question 439602: 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) (Show Source):
You can put this solution on YOUR website! x+y=5000
.03x+.05y=210
Multiply the second equation by 100:
3x+5y=21000
3x+3y=15000
2y=6000
y=3000
x=2000
$2000 was invested at 3%, $3000 at 5%..
