Eva invested a certain amount of money at 13% interest and $2,500 more than that amount at 15%. Her total yearly interest was $1,775. How much did she invest at each rate?
A)$2,500 at 13%, $5,000 at 15%
B)$5,000 at 13%, $7,500 at 15%
C)$5,200 at 13%, $7,300 at 15%
D)$5,200 at 13%, $7,700 at 15%
E)$7,500 at 13%, $5,000 at 15%

Question

Quizplus · Accepted Answer

Let the amount invested at 13% be x dollars. Then, the amount invested at 15% is x + $2,500. The total interest from both investments is $1,775, which can be represented by the equation: 0.13x + 0.15(x + 2500) = 1775. Solving this equation gives x = $5,000 for the 13% investment and x + $2,500 = $7,500 for the 15% investment.

Eva Invested a Certain Amount of Money at 13% Interest