\( \$ 5,000 \) 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. \[ V=155 \]
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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!