Question

phyllis invested 9,500, a portion earning a simple interest rate of 91/5% per year and the rest earning a rate of 9% per year. After one year the total interest earned on these investments was 870.00. how much money did she invest at each rate?

Answer 1

See below

Explanation:

x = amount at 9.2 % interest = .092 x

(9500 -x) = amount at 9% interest = .09 ( 9500-x) summed, they = 870

.092x + .09 ( 9500-x) = 870

x = 7500 then the other amount at 9 % is 2000