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Math Help - How Much Was Invested

  1. #1
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    How Much Was Invested

    A college graduate made $28,000 in her first year working. She invested half the money in two CDs that earned 3% and 5% annual interest. After one year she earned $625 in interest. How much was invested in the 3% account?
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  2. #2
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    let x and y be the amount she invested in the 3% and 5% account respectively.

    We know that x+y=\frac{28000}{2}=14000 ___(1)
    and \frac{3}{100}x+\frac{5}{100}y=625___(2)

    You should be able to continue.
    Cheers

    P.S. please show your work and where you're stuck next time
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  3. #3
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    Is this a system of equations in two variables?
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  4. #4
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    yes, x and y. x is the amount invested in the 3% interest account, and y is the amount invested in the 5% interest account
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  5. #5
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    Quote Originally Posted by arze View Post
    let x and y be the amount she invested in the 3% and 5% account respectively.

    We know that x+y=\frac{28000}{2}=14000 ___(1)
    and \frac{3}{100}x+\frac{5}{100}y=625___(2)

    You should be able to continue.
    Cheers

    P.S. please show your work and where you're stuck next time
    In place of the fractions for equation 2, can I use 0.03 for 3/100 and 0.05 for 5/100?
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  6. #6
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    of course, since they mean the same thing
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  7. #7
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    I can take it from here.
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