SOLUTION: Jolene invests her savings in two bank accounts, one paying 4% and the other paying 11% simple interest per year. She puts twice as much in the lower-yielding account because it i

Question 1026492: Jolene invests her savings in two bank accounts, one paying 4% and the other paying 11% simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 3021 dollars. How much did she invest at each rate?
Amount invested at 4% interest is
Amount invested at 11% interest is
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Amount @ 11.00% x
Amount @ 4.00% 2 x
Total interest earned = 3,021.00

11.00% x+ 4.00% ( 2 x)= 3021
11.00% x+ 4.00% * 2 x= 3021
11.00% x+ 8%x =3021
multiply by 100
11.00 x+ 8 x = 302100
19 x = 302100
x= 15900 Amount @ 11.00%
=
Amount @ 4.00% = 2 * 15900
= 31800

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