I am absolutely honorabl at math and word problems please help!

Question

Phyllis invested $9,500, a portion earning a simple interest rate of 3 1/4 % per year and the rest earning a rate of 3% per year. After one year the total interest earned on these investments was $303.75. How much money did she invest at each rate?

Answer 1

Hero,

 

x = the money invested in simple interest rate of 3 1/4 %

y = the money invested in simple interest rate of 3 %

 

x + y = 9500 <=> y = 9500 - x

3.25/100x + 3/100y = 303.75 <=> 3.25x + 3y = 30375

<=> 3.25x + 3(9500 - x) = 30375

3.25x + 28500 - 3x = 30375

0.25x = 30375 - 28500

0.25x = 1875

x = $7,500

y = 9500 - 7500 = $2000