Phyllis invested $8,500, a portion earning a simple interest rate of 3 1/4% per year and...

Phyllis invested $8,500, a portion earning a simple interest rate of 3 1/4% per year and the rest earning a rate of 3% per year. After one year the total interest earned on these investments was $271.25. How much money did she invest at each rate?

at 3 1/4% per year $_______

at 3% per year $________

Expert Solution

milcah answered 2 years ago

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Phyllis invested $8,500, a portion earning a simple interest rate of 3 1/4% per year and...

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