SOLUTION: In planning her​ retirement, Liza deposits some money at 4.5​% ​interest, with twice as much deposited at 5​%. Find the amount deposited at each rate if the

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Question 1122586: In planning her​ retirement, Liza deposits some money at 4.5​% ​interest, with twice as much deposited at 5​%. Find the amount deposited at each rate if the total annual interest income is ​$1740.
Answer by ikleyn(52765)   (Show Source): You can put this solution on YOUR website!
.
Let x be the amount deposited at 4.5%.


Then the amount deposited at 5% is 2x, according to the condition.


Your equation is THIS :


interest + interest  = total interest

0.045x   + 0.05*(2x) = 1740    dollars.


Simplify and solve for x:


0.045x + 0.1x = 1740


0.145x = 1740  ====>  x =  = 12000.


Answer.  $12000 were deposited at 4.5%  and  $24000 were deposited at 5%.


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