Question

$10,000 is invested at two different rates. $2,500 is invested at 4%, and the rest is invested at 5%. How much interest is earned at the end of one year? Show all work for full credit.

Answer 1

So, what we have to do is split 10000
0.04(2500) + 0.05(7500)
Multiply:
100 + 375 = 475
$475 is made in one year