Wednesday

October 1, 2014

October 1, 2014

Posted by **jackie** on Thursday, January 19, 2012 at 11:51pm.

- intermediate algebra -
**drwls**, Friday, January 20, 2012 at 6:48amThis problem requires writing and solving two "simultaneous" equations in two unknowns.

Let the two amounts invested by x (at 5%) and y (at 3%). Assume simple interest at that annual rate.

0.05 x + 0.03 y = 28.0

x + y = 706.

==========================

Now solve those two equations.

0.05x + 0.05y = 35.30

0.02 y = 7.30

y = $365.00

x = 706 - 365 = $341.00

**Answer this Question**

**Related Questions**

intermediate algebra - Select the set of equations that represents the ...

algebra - Select the set of equations that represents the following situation: ...

Algebra - Select the set of equations that represents the following situation: ...

algebra - Janet invested $23,000, part at 6% and part at 17%. If the total ...

Algebra 2 - Sam invested $7000, part at 7% and the rest at 11%. If his total ...

Math - A total of $11,000 was invested. Part of the $11,000 was invested at 4% ...

Math Help Please - Bob invested $30,000, part at 10% and part at 1%. If the ...

algebra - two investments were made totaling $15,000. for a certain year these ...

Math - John invested $2500, part at 8% and the rest at 12% per annum. The two ...

math - if $9,000 is to be invested, part at 13% and the rest at 8% simple ...