SOLUTION: a certain amount of money is invested at 3% per year, and 1500 more than that amount is invested at 5% per year. The annual interest from the 5% investment exceeds the annual inter
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Question 883974: a certain amount of money is invested at 3% per year, and 1500 more than that amount is invested at 5% per year. The annual interest from the 5% investment exceeds the annual interest from the 3% investment by 125. How much is invested at each rate? Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! a certain amount of money is invested at 3% per year, and 1500 more than that amount is invested at 5% per year. The annual interest from the 5% investment exceeds the annual interest from the 3% investment by 125. How much is invested at each rate?
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let x=amt invested at 3%
x+1500=amt invested at 5%
..
5%(x+1500)-3%x=125
.05x+75-.03x=125
.02x=50
x=2500
x+1500=4000
amt invested at 3%=$2500
amt invested at 5%=$4000
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