Answer:
The first amount invested at 3%= x = $7500
The second amount Invested at 5% = y = $17500
Explanation:
Juelle had $25,000 to invest.
She invested part of that amount at 3% interest and part at 5% interest for one year.
The amount of interest she earned for both investments was $1100.
The formula for Simple Interest =
Principal × Rate × Time
Let us represent
The first amount invested at 3%= x
The second amount Invested at 5% = y
x + y= $25,000....... Equation 1
x = 25,000 - y
3% × x + 5% × y = $1100...... Equation 2
0.03x + 0.05y = 1100...... Equation 2
We substitute 25000 - y for x in Equation 2
0.03x + 0.05y = 1100
0.03(25000 - y) + 0.05y = 1100
750 - 0.03y + 0.05y = 1100
Collect like terms
- 0.03y + 0.05y = 1100 - 750
0.02y = 350
y = 350/0.02
y = 17500
Solving for x
x = 25,000 - y
x = 25000 - 17500
x = 7500
Therefore:
The first amount invested at 3%= x = $7500
The second amount Invested at 5% = y = $17500