Question

Phyllis invested $10,000, a portion earning a simple interest rate of 8 1 2 % per year and the rest earning a rate of 8% per year. After one year the total interest earned on these investments was $842.50. How much money did she invest at each rate?

Answer 1

0.08x+0.085 (10000-x)=842.50
Solve for x
X= 1500 invested at 8%

10000-1500=8,500 at 8.5%