Answer:
- Timothy invested $2500 in 3% account and $5000 in the 2% account
Explanation:
Let the investments be x and y.
Required equations are:
- x + y = 7500
- 0.03x + 0.02y = 175
Solve the system by elimination, multiply the second equation by 50 and subtract the first one:
- 50(0.03x) + 50(0.02y) - x - y = 50(175) - 7500
- 1.5x - x = 1250
- 0.5x = 1250
- x = 2500
Find the value of y: