Question

Phyllis invested 39000 dollars, a portion earning a simple interest rate of 5% per year and the rest earning a rate of 6% per year. After one year the total interest earned on these investments was 2220 dollars. How much money did she invest at each rate? At 5%: At 6%:

Answer 1

0.05x + 0.06y = 2220 x + y = 39000 Use system of equations substitution method X = 1200 Y = 2700 I can work out or you can practice