Phyllis invested $12,500, a portion earning a simple interest rate of 4% per year and the rest earning a rate of 4% per year. After one year the total interest earned on these investments was $515.00. How much money did she invest at each rate? at 4% per year at 4% per year

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Systems Of Equations
Section11.CR: Review Problem Set
Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...
icon
Related questions
icon
Concept explainers
Topic Video
Question
Phyllis invested $12,500, a portion earning a simple interest rate of 4% per year and the rest earning a rate of 4% per year. After one year the total interest earned on
these investments was $515.00. How much money did she invest at each rate?
at 4% per year
2$
at 4% per year
2$
Transcribed Image Text:Phyllis invested $12,500, a portion earning a simple interest rate of 4% per year and the rest earning a rate of 4% per year. After one year the total interest earned on these investments was $515.00. How much money did she invest at each rate? at 4% per year 2$ at 4% per year 2$
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, trigonometry and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell