SOLUTION: To Whomever can assist, Thank you! Fawn invested a certain amount of money at 3% interest and $1250 more than that amount at 5%. Her total yearly interest was $134.50. How muc

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: To Whomever can assist, Thank you! Fawn invested a certain amount of money at 3% interest and $1250 more than that amount at 5%. Her total yearly interest was $134.50. How muc      Log On


   

Question 57643This question is from textbook Elementary and Intermediate Algebra
: To Whomever can assist, Thank you!
Fawn invested a certain amount of money at 3% interest and $1250 more than that amount at 5%. Her total yearly interest was $134.50. How much did she invest at each rate? This question is from textbook Elementary and Intermediate Algebra

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Fawn invested a certain amount of money at 3% interest and $1250 more than that amount at 5%. Her total yearly interest was $134.50. How much did she invest at each rate?
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Let amount invest at 3% be "x"; interest on thatis 0.03x dollars
Amount invested at 5% is "x+1250"; interest on that is 0.05x+62.5
EQUATION:
interest + interest = 134.5
0.03x+0.05x+62.5=134.5
0.08x=72
x=$900 (amount invested at 3%)
x+1250=900+1250=$2150 (amount invested at 5%)
Cheers,
Stan H.