Question
upstudy study bank question image url

\( \$ 5,000 \) is invested in two different accounts yielding \( 3 \% \) and \( 3.5 \% \) interest. The interest earned on the two accounts is \( \$ 155 \). Let x and y represent the two amounts invested. Complete the equation. \[ V=155 \]

Ask by Ramos Barker. in the United States
Feb 27,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

Let x be the amount invested at 3%, and y be the amount invested at 3.5%. The total investment is $5,000, so: x + y = 5000. The interest earned is: 0.03x + 0.035y = 155. This completes the equation for the interest earned on the two accounts.

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Answered by UpStudy AI and reviewed by a Professional Tutor

Extra Insights

To express the equation based on the given investment amounts and interest rates, you can set it up as follows: The amount invested in the account with \( 3\% \) interest can be represented as \( x \), and the amount invested in the account with \( 3.5\% \) interest can be represented as \( y \). Thus, we have the total investment equation: \[ x + y = 5000 \] The total interest earned from both accounts can be represented as: \[ 0.03x + 0.035y = 155 \] So, together, you would have: \[ V = 0.03x + 0.035y = 155 \] This setup lets you solve for \( x \) and \( y \) using substitution or elimination! To solve these equations, let’s isolate one variable. From the first equation, rearranging gives you \( y = 5000 - x \) and substituting this into the interest equation allows for a neat elimination. Also, watch for the common mistake of incorrectly calculating interest — always double-check your percentages! Good luck on your journey to find how much you invested at each interest rate!

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy