Q:

Alewuya invests a total of $35,000 in two accounts paying 5% and 15% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $3,350.00.$ was invested at 5% and$ was invested at 15%

Accepted Solution

A:
Answer:$19,000 was invested at 5% and $16,000 was invested at 15%Step-by-step explanation:Letx ----> the amount invested at 5%(35,000-x) ------> the amount invested at 15%we know thatThe total interest is equal to the interest of the amount invested at 5% plus the interest of the amount invested at 15%[tex]5\%=5/100=0.05[/tex][tex]15\%=15/100=0.15[/tex]so[tex]3,350=0.05x+0.15(35,000-x)[/tex]Solve for x[tex]3,350=0.05x+5,250-0.15x[/tex][tex]0.15x-0.05x=5,250-3,350[/tex][tex]0.10x=1,900[/tex][tex]x=\$19,000[/tex][tex](35,000-x)=\$16,000[/tex]therefore$19,000 was invested at 5% and $16,000 was invested at 15%