SOLUTION: Sally invested a certain amount of money at 5% and another amount twice as large at 6% interest. The total annual income from the investments was 4,250. Find the amount invested in
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Question 1119549: Sally invested a certain amount of money at 5% and another amount twice as large at 6% interest. The total annual income from the investments was 4,250. Find the amount invested in each rate.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
x equals the amount invested at 5%.
2x equals the amount invested at 6%.
the total annual income from the investments was 4250.
your formula is .05 * x + .06 * 2x = 4250.
simplify to get .05 * x + .12 * x = 4250.
combine like terms to get .17 * x = 4250.
solve for x to get x = 4250 / .17 = 25000.
she invested 25000 at 5% and 50000 at 6%.
.05 * 25000 + .06 * 50000 = 1250 + 3000 = 4250.
solution looks good.
solution is 25,000 was invested at 5% and 50,000 was invested at 6%.
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