3 years ago

Hurry will give brainliest!!

Mathematics

1 answer:

Ipatiy [6.2K]3 years ago

6 0

Answer:

B and D

Step-by-step explanation:

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Step-by-step explanation:

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Phyllis invested 50000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7

Elodia [21]

Answer:

The amount invested at 5% was $39,000 and the amount invested at 7% was $11,000

Step-by-step explanation:

we know that

The simple interest formula is equal to

$I=P(rt)$

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

Let

x-----> the amount invested at 5%

50,000-x -----> the amount invested at 7%

$t=1\ year\\ I=\$2,720\\r_1=0.05\\r_2=0.07\\P_1=\$x\\P_2=\$(50,000-x)$

substitute in the formula above

$2,720=x(0.05*1)+(50,000-x)(0.07*1)$

solve for x

$2,720=0.05x+3,500-0.07x$

$0.07x-0.05x=3,500-2,720\\0.02x=780\\x=\$39,000$

$(50,000-x)=\$11,000$

therefore

The amount invested at 5% was $39,000 and the amount invested at 7% was $11,000

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3 years ago