Question 1110071
Use {{{ I = P*r*t }}}
{{{ I[1] = P[1]*r[1]*t }}}
{{{ I[1] = P[1]*.05*1 }}}
(1) {{{ I[1] = .05*P[1] }}}
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{{{ 163 - I[1] = ( P[1] - 2300 )*.03*1 }}}
{{{ 163 - I[1] = .03P[1] - 69 }}}
(2) {{{ I[1] = -.03P[1] + 232 }}}
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Set (1) = (2) 
{{{ .05P[1] = -.03P + 232 }}}
{{{ .08P[1] = 232 }}}
{{{ P[1] = 2900 }}}
and
{{{ P[1] - 2300 = 2900 - 2300 }}}
{{{ P[1] - 2300 = 600 }}}
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He invested $2,900 @ 5%
He invested $600 @ 3%
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check:
{{{ I[1] = .05*P[1] }}}
{{{ I[1] = .05*2900 }}}
{{{ I[1] = 145 }}}
and
{{{ 163 - I[1] = .03P[1] - 69 }}}
{{{ 163 - I[1] = .03*2900 - 69 }}}
{{{ 163 - I[1] = 87 - 69 }}}
{{{ i[1] = 163 - 87 + 69 }}}
{{{ I[1] = 145 }}}
OK