Math Problem Statement

Jyn Erso had $2000 in credits to invest. She chose to invest some in The Separatist Bank at 2.5% simple interest and some in the Republic Bank at 5% simple interest. At the end of the year she found that she had earned $55 in interest. Knowing this, how much did she initially invest in each bank?

Solution

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Math Problem Analysis

Mathematical Concepts

Algebra
Simple Interest
Linear Equations

Formulas

Simple Interest Formula I = P × r × t
Linear Equation for Total Interest: 0.025x + (100 - 0.05x) = 55

Theorems

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Suitable Grade Level

Grades 9-11