Question

Kelly made two investments totaling $5000. Part of the money was invested at 2% and the rest at 3%.In one year, these investments earned $129 in simple interest. How much was invested at each rate?

Answer 1

2100 at 2%

2900aat 3%

Explanation:

x= money invested at 2%

y= money invested at 3%

x+y=5000

.02x+.03y=129

y=5000-x

.02x+.03(5000-x)=129

-.01x= -21

x= 2100

2100+y=5000

y= 2900