Answer:
8%
Step-by-step explanation:
So we have two investments. The first is 500 with an interest rate of x while 2000 has an interest rate of x+.005 (.005 is .5 %),
annual interest means it gets interest once a year, it then says in total, after one year, so one time getting interest he gets 210 total, so in total the money is 500 + 2000 + 210. So let's set up an equation with all this
500x + 2000(x+.005) = 2710
500x + 2000x + 10 = 2710
2500x = 2700
x = 1.08
So that means we multiply 500 by 1.08, which represents 8% and 2000 by 1.085. But the question is just asking for the interest rate for 500 so the answer is 8%
If you don't understand how I did anything let me know.
