Question 124247
SOMETHING IS WRONG WITH THIS PROBLEM!!!! IF YOU INVESTED THE $7500 ALL AT 5.5%, THE INTEREST ACCRUED WOULD BE: 7500*0.55*1 0R $412.50.  WHEN YOU GET IT RIGHT, THE FOLLOWING WOULD BE THE APPROACH FOR SOLVING IT:

Interest(I) equals Principal(P) times Rate(R) times Time(T) or I=PRT


Let P=amount deposited in the 5.5% account; Interest accrued on this account would be P*0.055*1 or 0.0.055P
Then 7500-P=amount deposited in the 7% account;  Interest accrued on this account would be (7500-P)*0.07*1 or 525-0.07P

Now we are told that the total interest accrued on both accounts =$405. So our equation to solve is:

0.055P+525-0.07P=405  subtract 525 from both sides
0.055P-0.07P+525-525=405-525 collect like terms


-0.015P=-120  divide both sides by -0.015

P=$8000-----------------amount invested at 5.5% HELLO??????????????


Hope this helps----ptaylor