Nico was stunned when he opened the mail. Here was a check for $322.50! This was the interest he earned on his investment. One year ago Nico had been given $5,000. His parents made him put it in the bank and save it for college, but they said he could keep the interest it earned each year. A portion of his money in a high rate account that earned 8% annual interest. The rest is in a regular account that earned 3%. Both accounts pay simple interest computed at the end of each year. How much of Nico's money was invested in each account?

To solve this problem, we can use a system of equations to represent the given information.

Let's assume the amount of money invested in the high rate account is x dollars.
Therefore, the amount of money invested in the regular account would be 5000 - x dollars (since the total invested money is $5000).

Now, we can calculate the interest earned from each account:

Interest from the high rate account = (8/100) * x = 0.08x dollars
Interest from the regular account = (3/100) * (5000 - x) = 0.03(5000 - x) dollars

According to the problem, the total interest earned is $322.50. So, we can set up the equation:

0.08x + 0.03(5000 - x) = 322.50

Next, we can solve this equation to find the value of x.

0.08x + 0.03(5000 - x) = 322.50
0.08x + 150 - 0.03x = 322.50
0.05x + 150 = 322.50
0.05x = 322.50 - 150
0.05x = 172.50
x = 172.50 / 0.05
x = 3450

So, Nico invested $3450 in the high rate account and $5000 - $3450 = $1550 in the regular account.

Therefore, the portion of Nico's money invested in the high rate account is $3450, and the portion invested in the regular account is $1550.

77.8

The formula is PRT=I

P * R * T = I
1st invest: x 8% 1 .08*1*x
2nd invest: y 3% 1 .03*1*y
total:5000 322.50
you will have 2 equations and will use the substitution
x+y=5000 x=5000-y
.08x+.03y=322.50
.08(5000-y)+.03=322.50
and you finish solving from here, hope this helped.

The answer is some number