SOLUTION: In planning her retirement, Liza deposits some money at 4.5% interest, with twice as much deposited at 5%. Find the deposited at each rate if the total annual interest income is $1

Algebra.Com
Question 1093141: In planning her retirement, Liza deposits some money at 4.5% interest, with twice as much deposited at 5%. Find the deposited at each rate if the total annual interest income is $1450.
Answer by Theo(13342)   (Show Source): You can put this solution on YOUR website!
let x = the amount invested at 4.5%.
let y = the amount invested at 5.0%.

total interest is 1450.

therefore .045*x + .05*y = 1450.

y = 2 * x, so you can replace y with 2x and your equation becomes .045*x + .05*2*x = 1450

factor out the x to get x * (.045 + .05*2) = 1450

simplify and combine like terms to get .145 * x = 1450

solve for x to get x = 10000

2x is therefore equal to 20000.

she has 10000 invested at 4.5% and 20000 invested at 5%.

that's your solution.

.045 * 10000 + .05 * 20000 = 1450


RELATED QUESTIONS

In planning her retirement, Liza deposits some money at 4% interest, with twice as much... (answered by josmiceli)
In planning her​ retirement, Liza deposits some money at 4.5​%... (answered by ikleyn)
In planning her retirement,Liza deposits some money at 3.5% interest, with twice as much... (answered by ikleyn)
In her planning her retirement, Liza deposits some money at 3% interest, with twice as... (answered by ewatrrr)
In planning her retirement, Liza deposits some money at 2.5% interest, with twice as much (answered by stanbon)
In planning her retirement, Liza deposits some money at 3.5% interests, with twice as... (answered by addingup)
in planning her retirement Liza deposit some money at 3.5% interest with twice as much... (answered by dkppathak,greenestamps)
Question Help In planning her​ retirement, Liza deposits some money at 2​%... (answered by ikleyn)
Please help me answer this question. It would help me a lot. "In planning her... (answered by josmiceli)