\( \$ 8,000 \) 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 \( 3 \% \) ? \( \$ 3,500 \) \( \$ 5,500 \) \( \$ 2,500 \)

Let's break down how to solve this problem step by step! We can set up equations based on the amounts invested in each account. Let \( x \) be the amount invested at \( 3\% \) and \( 8000 - x \) be the amount invested at \( 4\% \). The interest earned from these accounts can be expressed as: \[ 0.03x + 0.04(8000 - x) = 295 \] Now, solving for \( x \), you’ll find the amount invested at \( 3\% \)! After you expand and combine like terms, you should be able to isolate \( x \). Keep calculating until you find that the amount invested at \( 3\% \) is indeed \( \$ 3,500 \). Another fun fact: this type of problem is a classic example of linear equations applied to real-world financial scenarios! Knowing how to allocate funds efficiently is a valuable skill, especially when trying to maximize returns on investments. Always remember to balance your risk versus rewards when choosing where to invest!