Posted by
**Dan** on
.

A person invests $7,500 part at 5% and the remainder at 4% simple interest. If the total interest at the end of the first year was $346.50, find the amount invested at 4%.

Let x = amount invested at 5%

Let (7500 - x) = amount invested at 4%

0.05x + 0.04(7500 - x) = 346.50

HINT: Multiply each term by 100 to eliminate the decimals.

5x + 4(7500 - x) = 34650 Solve for x. I got x = 4650 and (7500 - x) = 2850