SOLUTION: $5,000 is invested at 3% interest. How much money must be invested at 5% interest so that the total interest from the two investments is $275 after one year?

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Question 532899: $5,000 is invested at 3% interest. How much money must be invested at 5% interest so that the total interest from the two investments is $275 after one year?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
$5,000 is invested at 3% interest. How much money must be invested at 5% interest so that the total interest from the two investments is $275 after one year?
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Interest Eq::: 0.03*5000 + 0.05x = 275
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Multiply thru by 100 to get:
3*5000 + 5x = 27500
5x = 27500- 15000
5x = 12500
x = $2500 (amt. to invest at 5%)
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Cheers,
Stan H.
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