Question

Mrs B invested $30,000, part at 5%, part at 8%. The total interest on the investment was $2100, how much did she invest at each rate?

(Please show working)

Answer 1

$10,000 invested at 5%

$20,000 invested at 8%

Explanation:

1. Let x = the amount of money invested at 5%, and y = the amount of money invested at 8%.

x + y = 30,000 (the total amount invested)

0.05x + 0.08y = 2,100 (the total interest earned)

2. Solve the system by whatever method you choose.