5000 is invested at 3 percent interest. how much money must be invested at 5 percent interest so that the total interest from th
e two investments is 275 after one year
2 answers:
Whatever% of anything is just (whatever/100) * anything.
so, 5000 at 3% will just be (3/100) * 5000, or 150 bucks.
now, if the two investments were to yield 275, we know the first yields 150, so the second investment must yield the difference, or 275 - 150, or 125.
so, what's the Principal to be invested for 1 year at 5% to get 125 bucks in interest from it?
Here's the appropriate equation:
5000(0.03)(1) + x(0.05)(1) = 275
Then 150 + .05x = 275, or
0.05x = 125, or x = 2500
Invest $2500 at 5% for one year.
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