SOLUTION: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account becaus
Algebra.Com
Question 1000209: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 3960 dollars. How much did he invest at each rate?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
investment in 10% --------x
Investment in 6% ----------2x
10%x+6%(2x) = 3960
multiply by 100
10x+12x=396000
22x=396000
x= 396000/22
x=18000
10000 @ 10%
20,000 @6%
RELATED QUESTIONS
A man invests his savings in two accounts, one paying 6 percent and the other paying 10... (answered by lwsshak3)
A man invests his savings in two accounts, one paying 6 percent and the other paying 10... (answered by mananth)
A man invests his savings in two accounts, one paying 6 percent and the other paying 10... (answered by robertb)
A man invests his savings in two accounts, one paying 6 percent and the other paying 10... (answered by mananth,MathTherapy)
A man invests his savings in two accounts, one paying 6% and the other paying 10% simple... (answered by math-vortex)
A man invests his savings in two accounts, one paying 6% and the other paying 10% simple... (answered by josgarithmetic)
Jolene invests her savings in two bank accounts, one paying 6 percent and the other... (answered by Boreal)
Jolene invests her savings in two bank accounts, one paying 6 percent and the other... (answered by ikleyn)
I am having a problem setting this question up to solve
Jolene invests her savings in (answered by Earlsdon)