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Sagot :
Answer:
$30,000 (at 3%) and $27,000 (at 2 7/8%)
Explanation:
The investor invested a total of 57000
• Let the amount invested at 3% simple interest = x
,• Then, the amount invested at 2 7/8% simple interest = 57000-x
Recall the formula for simple interest:
[tex]Simple\: Interest=\frac{Principal\times Rate\times Time}{100}[/tex]Interest at 3%
[tex]\begin{gathered} S\mathrm{}I\mathrm{}=\frac{x\times3\times1}{100} \\ =\frac{3x}{100} \\ =0.03x \end{gathered}[/tex]Interest at 2 7/8%
[tex]\begin{gathered} SI=\frac{(57000-x)\times2\frac{7}{8}\times1}{100} \\ =\frac{2.875(57000-x)}{100} \\ =0.02875(57000-x) \end{gathered}[/tex]Total Interest
The investor earned a total of $1676.25 in annual interest. Therefore:
[tex]\begin{gathered} 0.03x+0.02875(57000-x)=1676.25 \\ 0.03x+1638.75-0.02875x=1676.25 \\ 0.03x-0.02875x=1676.25-1638.75 \\ 0.00125x=37.5 \\ x=\frac{37.5}{0.00125} \\ x=30,000 \end{gathered}[/tex]Thus, the amount invested at 3% simple interest = $30,000
The amount invested at 2 7/8% simple interest = 57,000-30,000 = $27,000
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