Question

$5,000 is invested at 3% interest. How much money must be invested at 5% interest so that the total interest from the two investments is $275 after one year? $2,000 $2,500 $3,000

Answer 1

Answer:150

Explanation:

Just divide 5000 by 3

Answer 2

3% interest on 5,000 = 150

275 (the total amount wanted) - 150 (from initial investment)= 125

x (5%) =125
x (0.05)= 125
x/0.05)= 125/0.05
x=2500

you need to invest 2500 at 5% to get the additional 125

125 plus 150= 275