SOLUTION: Jolene invests her savings in two bank accounts, one paying 6 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account

Question 1105491: Jolene invests her savings in two bank accounts, one paying 6 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 5840 dollars. How much did she invest at each rate?
Amount invested at 6 percent interest is
Amount invested at 8 percent interest is
Answer by ikleyn(52761) (Show Source): You can put this solution on YOUR website!
.

interest  + interest  = total interest

0.06*(2x) + 0.08*x    = 5840.


Solve for x, where x = the amount invested at 8%.


Then evaluate 2x, which is the amount invested at 6%.

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