Jack invests $500 at a certain annual interest rate, and he invests another $2000 at an annual rate that is one-half percent higher. If he receives a total of $185 interest in one year, at what rate is the $500 invested?

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justfo - Simply take the words and put them into an equation: First, let r = the rate that the $500 is invested. That means the $2000 is invested at r+0.005 {Remember, all percents need to be changed to decimal} $500(r) + $2000(r+0.005) = $185 Now just solve for r. I'll leave the math for you. Hope that helps!

Justfo - Great job ... 7% is correct! No problem with the points ... they don't mean anything to me anyway. Just trying to help out when I can.