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

hmm is very straight forward, how much is whatever% of anything? is just (whatever/100) * anything.


`\bf \textit{4\% of 2,500}\implies \cfrac{4}{100}\cdot 2,500\implies 100 \\\\\\ \textit{the rest is 7,500 at 5\%, what's 5\% of that?}\implies \cfrac{5}{100}\cdot 7,500\implies 375`