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OpenStudy (anonymous):
$8,000 is invested in two different accounts earning 3% and 4% interest. If the two accounts earn a total of $295 in interest, how much money was invested at 3%?
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OpenStudy (whpalmer4):
Let T be the amount at 3%, and F be the amount at 4%. The T investment will earn 3%*T or 0.03T The F investment will earn 4%*F or 0.04F We know that together they earn $295, and the total of T+F is $8,000. T+F=8000 0.03T + 0.04F = 295 Solve those two equations for T and F.
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