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K William opened two investment accounts. The first year, these investments, which totaled $2800, yielded $167 in simple interest. Part of the money was invested at 6.5% and the rest at 5%. How much was invested at each rate? was invested at 6.5%, and $ was invested at 5%.

K William opened two investment accounts. The first year, these investments, which totaled $2800, yielded $167 in simple interest. Part of the money was invested at 6.5% and the rest at 5%. How much was invested at each rate? was invested at 6.5%, and $ was invested at 5%.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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K William opened two investment accounts. The first year, these investments, which totaled $2800, yielded $167 in simple interest. Part of the money was invested at 6.5% and the rest at 5%. How much was invested at each rate? RETSE was invested at 6.5%, and $ was invested at 5%.
Transcribed Image Text:K William opened two investment accounts. The first year, these investments, which totaled $2800, yielded $167 in simple interest. Part of the money was invested at 6.5% and the rest at 5%. How much was invested at each rate? RETSE was invested at 6.5%, and $ was invested at 5%.
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Step 1

Total investment amount is $2800 Total simple  interest is $167interest rate  r1=6.5%=6.5100interest rate r2=5%=5100Time t =1 year 

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